Thank you for simplifying this. I have two questions. 1) can we choose to not have the two pot system and only the one for retirement? 2) Please make a video on the costs of using the other pot that allows withdrawals from the pension. I have seen people complaining on social media about the withdrawal costs.
1) Yes, you can choose to not have the two pot system and opt for one pot. That decision was made on the 29 May when you chose your government. Worry not you’ll have another chance in 5 years time. 2) The only cost’s that will be incurred are that of the tax man as per your tax bracket.
Hi Yolanda, I always enjoy watching your inciteful videos. Do you offer personal tax consultation services? I'm looking for a new tax person to do my yearly taxes. Thank you.
Thank you for simplifying this. I have two questions. 1) can we choose to not have the two pot system and only the one for retirement? 2) Please make a video on the costs of using the other pot that allows withdrawals from the pension. I have seen people complaining on social media about the withdrawal costs.
1) Yes, you can choose to not have the two pot system and opt for one pot. That decision was made on the 29 May when you chose your government. Worry not you’ll have another chance in 5 years time. 2) The only cost’s that will be incurred are that of the tax man as per your tax bracket.
The pots will automatically set-up on 1 Sep 2024. if you don't make any pre-retirement withdrawals nothing will change for you.
Great explanation. Now I understand
There is no maximum withdrawal limit and what about the R30k?
The 30K is once off seeding
Hi Yolanda, I always enjoy watching your inciteful videos. Do you offer personal tax consultation services? I'm looking for a new tax person to do my yearly taxes.
Thank you.
HI, we don't do taxes, sorry
Insightful