TWO-POT RETIREMENT SYSTEM: TREASURY PUBLISHES PROPOSED AMENDMENTS TO PUBLIC SECTOR PENSION LAWS

TWO-POT RETIREMENT SYSTEM: TREASURY PUBLISHES PROPOSED AMENDMENTS TO PUBLIC SECTOR PENSION LAWS

• 11 March 2024
• National Treasury
• SA Legal Academy

National Treasury has published proposed amendments to three pieces of legislation governing public sector pension funds.

According to an accompanying media statement, the intention is that the amendments envisaged should be included in the Pension Funds Amendment Bill now before the National Assembly’s Standing Committee on Finance.

This is noting the importance of aligning pension laws across all sectors to ensure that fund rules are amended in time for the two-pot retirement system’s implementation on 1 September 2024.

• media statement
• proposed amendments to the Government Employees Pension Law, 1996
• proposed amendments to the Post &Telecommunications-related Matters Act, 1958
• proposed amendments to the Transnet Pension Fund Act, 1990
• Pension Funds Amendment Bill

Published by SA Legal Academy Policy Watch

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