The two-pot retirement system is a new pension system was scheduled to be implemented in South Africa from 1 March 2024. This system allows for up to one-third of all retirement funds to be placed in a “savings pot” that will be available before retirement under the new scheme. The remaining two-thirds of a pension fund will thereafter be transferred to a “retirement fund” that can only be accessed upon retirement .
However, the implementation of the two-pot retirement system has been postponed to September 2024 . The postponement was agreed upon by the minister of finance and the portfolio committee on finance in parliament .