MyMoney Online, The Personal Finance series with Warren Ingram

How retirement reforms (effective from 1 March) will affect your golden years

(Click here to read "President Jacob Zuma signs retirement reforms. Here’s what they entail…".)

The Money Show’s Bruce Whitfield interviewed Warren Ingram, Financial Advisor at Galileo Capital.

Ingram discussed what to make of the retirement reforms that will be in place from March.

Scroll down for quotes from the audio below.

This takes away discrepancies between all the various retirement and pension funds.

Warren Ingram, Galileo Capital Financial Advisor

We’re getting a bigger tax deduction. 27.5% versus 15% before.

Warren Ingram, Galileo Capital Financial Advisor

The unions should be saying that ‘this is exactly what we need’.

Warren Ingram, Galileo Capital Financial Advisor

Nothing changes for the money already in your retirement fund. This pertains only to new money you put in there.

Warren Ingram, Galileo Capital Financial Advisor

This doesn’t have an enormous impact on high-income earners.

Warren Ingram, Galileo Capital Financial Advisor

Nobody likes to be told what to do, but the reality is that in our country we spend it all.

Warren Ingram, Galileo Capital Financial Advisor

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This article first appeared on 702 : How retirement reforms (effective from 1 March) will affect your golden years


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