#PODCAST Finance experts react to the Pension Fund Amendment Bill, was signed into law by President Cyril Ramaphosa #sabcnews

By Newsbreak Senior Producer Taresh Harreeparshad - If you do not need it, do not touch your retirement funds! That's the advice from financial expert Prem Govender. She was reacting to the Pension Fund Amendment Bill that was signed into law by President Cyril Ramaphosa. This law now implements the Two Pot retirement system- which means one-third of retirement contributions will be split into a savings component and two-thirds into a retirement component. This will enable members of retirement funds to access their savings without having to resign. Workers in good standing can withdraw up to R30,000 of their pension fund savings- with the minimum being R2,000. Govender says while this could help as an immediate financial buffer- it will have a negative impact on your over-all retirement payout...