Two-pot system is confirmed, here all the details
Starts 1 March 2024 All future reg28 and pension contributions will be split into two pots One third savings Two thirds investments You can withdraw the savings component before retirement Tax still payable Existing funds will convert automatically into the new two-pot system Of existing funds R25,000 will be transferred into the savings pot Concerns about everybody taking out their R25,000 and crashing the market are over done. Simon Shares Top ETFs so far in 2023, so +50% returns in just six months. New-vehicle sales in SA +14% for June. But last year June Toyota Durban was still closed after flooding. But still a decent number. Pep (owned by Pepkor) has started offering credit to customers, they own Capfin so have experience in lending. China will control exports of some metals used in the semiconductor industry. Gallium and germanium are considered “minor metals.” They're not rare but costly to produce and China supplies ±80% SARB says fight to tame inflation monster is paying off. First time he has even hinted that maybe inflation is coming down.
