5 things South Africans still misunderstand about retirement reforms

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Mike Wills interviewed Michelle Acton, principal consultant at Old Mutual Corporate Consultants.

Acton discussed five misunderstandings about retirement reforms.

Scroll down for quotes from the audio below.

This legislation doesn’t affect resignation benefits at all. If you resign today you will still be able to access your money in cash.

Michelle Acton

These changes only impact new money added after 1 March.

Michelle Acton

These funds are independent entities. They’re not managed by government.

Michelle Acton

The intention of this is that it only impacts those still far away from retirement.

Michelle Acton

Retirement funds are very tax efficient. These changes make it even more so.

Michelle Acton

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This article first appeared on 702 : 5 things South Africans still misunderstand about retirement reforms


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