South Africa's largely consumer-driven economy is likely to get a financial stimulus from two-pot withdrawals, as the new pension system takes effect from Sunday. However, it all depends on how much is withdrawn.
Big banks, asset managers and economists are expecting withdrawals from the "savings pot" of pensions totalling between R50 billion and R100 billion in the first year, which many agree could provide another tonic to economic growth.
This is in addition to expected decreases in interest rates, optimism around the economy growing faster on the back of the establishment of the government of national unity (GNU), and Eskom finally getting a handle on load shedding.
Depending on how efficiently the withdrawal process is handled, it is not just the South African Revenue Service (Sars) that's going to cash in from two-pot withdrawals.
Denne historien er fra August 30, 2024-utgaven av The Citizen.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra August 30, 2024-utgaven av The Citizen.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Bulls may start as slight favourites on home turf
The Bulls will start as the slight favourites against the Sharks in their Currie Cup semifinal at Loftus Versfeld today, despite going into the game with just five Springboks in their starting team.
Hang around Rassie
Former Springbok and Bulls legend Naas Botha believes current Bok boss Rassie Erasmus should stay on as head coach of the national team for as long as possible.
Test a complete rain wipe-out
The one-off Test between Afghanistan and New Zealand was washed out yesterday after five days of rain, just the eighth Test in history to be abandoned without a ball being bowled.
Pirates on a mission to avenge Jwaneng defeat
Despite the shock of defeat, they suffered against the same opponents at the same stage of the competition last season, Orlando Pirates will go into today's Caf Champions League second first-leg clash against Jwaneng Galaxy as favourites (kick-off 4pm).
Inter travel to Monza ahead of massive week
Milan Inter Milan head into a huge week with the Champions League and Milan derby looming large over tomorrow's trip to Monza, while the killing of a mobster revealed disturbing links between organised crime and the club's hardcore supporters.
Gunners face early test
An under-strength Arsenal face a huge test of their Premier League title credentials at rivals Tottenham, while Manchester United boss Erik ten Hag desperately needs a response from his side at Southampton.
Piastri seeks more freedom to 'race' against Norris
Oscar Piastri made clear on Thursday that he will not be pulling over to help his teammate Lando Norris at every one of the remaining eight races this year following McLaren's decision to adopt team orders in support of the title-chasing Briton.
Max aims to fight back
Max Verstappen will look for an improved personal and team performance this weekend when Red Bull seek to stop the rot and stay on top in the Formula One title race at this weekend's Azerbaijan Grand Prix.
Raise your glasses to Atarime
Impressive Mount Pinatubo looks a sprinter to follow.
Bid to derail Trump's ascension
Taylor \"Whatshername\" Swift, pictured, has endorsed Kamala Harris.
