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PENSION FUNDS AMENDMENT BILL: FINAL OPPORTUNITY FOR INPUT
- 03 April 2024
- Parliament
- SA Legal Academy
The NCOP’s Finance Committee has issued a notice calling for written submissions by 12 April 2024 on a ‘B’ version of the Pension Funds Amendment Bill. This is in anticipation of parliamentary hearings four days later.
Tabled in January 2024, the proposed new piece of legislation provides for the tax treatment of contributions to and withdrawals from eligible retirement funds under the two-pot system. To that end, according to a memorandum on its objects, the Bill seeks to enable retirement funds to ‘appropriately implement’ amendments to the Income Tax Act included in the Revenue Laws Amendment Bill, a ‘B’ version of which is now waiting to be signed into law.
The Revenue Laws Amendment Bill provides for the introduction of a two-pot retirement savings system on 1 September 2024.
- Bill’s ‘B’ version
- committee notice
- Revenue Laws Amendment Bill’s ‘B’ version
Published by SA Legal Academy Policy Watch
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