Am definitely not Dhevan but as far as I understand the 2 pot will be implemented in March but withdrawals will only start in September. So GEPF members are all in the pool so in September when some members start withdrawing...all members will be implicated coz they are all in the pool.
@eugene, you’re spot on. All members will be affected because money will need to be disinvested in large sums to pay for those withdrawing. If markets are down at the time it could make things worse
I am following your channel Dhevan. I thought earlier you said the three pot system would be implemented at the 1st of March. Have they changed or it is just me that is confused? Once again, a very informative video Dhevan.
@Risenga, if you resign before 1 Sept 2024, you can still access all your money. If you take it in cash, you will be taxed. If you transfer to an approved fund you can avoid tax provided you get the right advice. You will find videos on this channel to help you
GREAT INSIGHTS...N THANKS...I HAVE 32 YEARS SERVICE WITH SAPS AND HAS BEEN FOR A WHILE CONSIDERING MY OPTIONS REGARDING EXACTLY THIS IE BEFORE EVEN TWO POT SYSTEM WAS SPOKEN OF....N NOW MORE THAN EVER ITS HAUNTING ME....HOWEVER, IM NOT UNDERSTANDING THE POINT OF KNOWING IF I WANTED TO LEAVE BEFORE 2 POT SYSTEM WILL BE A BETTER OPTION IF IM GONNA OBTAIN A STATWEMENT AFTER THE 2 POT SYSTEM IS IN EFFECT IF I DONT KNOW WHAT MY LOSSES ARE IF ANY...., IM LOST ON THIS POINT I APOLOGISE ...ISNT THIS COUNTER INTITIVE COS I WOULD WANT TO LEAVE BEFORE THE LOSS IS IN EFFECT...JUST CURIOUS SORRY FOR MY LACK OF KNOWLEDGE....
@manoj, there is a lot of uncertainty around how GEPF would apply the 2 pot system. We completed a Retire vs Resign Masterclass session with GEPF members all over the country. It includes an understanding of the 2 pot system. You can access the recording by clicking on this link. www.retirevsresign.co.za/ You can view it for free but only for the next 48 hours
I'm I forced to take the money on this tw0 pot,because for me I saw the disadvantages I'm only having 9years then I'm going to pension so I will be wasted my money 😢
Thanks for the information
@jodene, happy to hear this is helpful for you
Very good information,ℹ️ please tell us it better to pension at age 55 or 60 how much difference in retirement pension
@jonathan, usually the longer you are there the higher your benefits because the formula takes into account your years of service
Am definitely not Dhevan but as far as I understand the 2 pot will be implemented in March but withdrawals will only start in September. So GEPF members are all in the pool so in September when some members start withdrawing...all members will be implicated coz they are all in the pool.
@eugene, you’re spot on. All members will be affected because money will need to be disinvested in large sums to pay for those withdrawing. If markets are down at the time it could make things worse
I am following your channel Dhevan. I thought earlier you said the three pot system would be implemented at the 1st of March. Have they changed or it is just me that is confused? Once again, a very informative video Dhevan.
@Ntungwelihle, they’ve since moved the date to 1 Sept 2024
how do i book for consultation with you , in need if advise for resignation before this come into effect
@karabo, email retirewell@retiresa.co.za
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Dhevan is the 2 pot system in effect as from 1 march or is it coming into effect in September?
@Risenga, it was scheduled for March 2024 when this video was produced. However it’s now confirmed for 1 Sept 2024
@@DhevanNaicker I'm a government employee I'm on GEPF, I want to know if I resign tomorrow will I get my pension money?
@Risenga, are you cashing out or transferring to an approved fund?
@@DhevanNaicker I don't know all I know is I want my money am I late or I can still resign and get my money
@Risenga, if you resign before 1 Sept 2024, you can still access all your money.
If you take it in cash, you will be taxed.
If you transfer to an approved fund you can avoid tax provided you get the right advice.
You will find videos on this channel to help you
GREAT INSIGHTS...N THANKS...I HAVE 32 YEARS SERVICE WITH SAPS AND HAS BEEN FOR A WHILE CONSIDERING MY OPTIONS REGARDING EXACTLY THIS IE BEFORE EVEN TWO POT SYSTEM WAS SPOKEN OF....N NOW MORE THAN EVER ITS HAUNTING ME....HOWEVER, IM NOT UNDERSTANDING THE POINT OF KNOWING IF I WANTED TO LEAVE BEFORE 2 POT SYSTEM WILL BE A BETTER OPTION IF IM GONNA OBTAIN A STATWEMENT AFTER THE 2 POT SYSTEM IS IN EFFECT IF I DONT KNOW WHAT MY LOSSES ARE IF ANY...., IM LOST ON THIS POINT I APOLOGISE ...ISNT THIS COUNTER INTITIVE COS I WOULD WANT TO LEAVE BEFORE THE LOSS IS IN EFFECT...JUST CURIOUS SORRY FOR MY LACK OF KNOWLEDGE....
@manoj, there is a lot of uncertainty around how GEPF would apply the 2 pot system.
We completed a Retire vs Resign Masterclass session with GEPF members all over the country. It includes an understanding of the 2 pot system.
You can access the recording by clicking on this link.
www.retirevsresign.co.za/
You can view it for free but only for the next 48 hours
I'm I forced to take the money on this tw0 pot,because for me I saw the disadvantages I'm only having 9years then I'm going to pension so I will be wasted my money 😢
@mokgadi, review the tax and other videos on this channel to see how you can optimise what you have
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