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Treasury "Very Close" to Deal on Pension Withdrawals

SOUTH AFRICA
  • National Treasury says it's "very close" to signing an agreement that will allow people to withdraw from pension funds. There will be a limit of a third or up to 20% under certain conditions. A Bill to give effect to this will be announced by the MTBPS.
  • Treasury says people could possibly withdraw from their pension funds after 3 to 5 years.
  • Local economists have shown concern over this policy to provide access to pensions, arguing the longer-term effects will be broadly negative
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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