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 However, it all depends on how much is withdrawn.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.
Bu hikaye The Citizen dergisinin August 30, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Citizen dergisinin August 30, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
US blamed for expo row
Analysts warn exclusion could have dire consequences for SA down the line.
4900 visas for critical skills jobs
South Africa has a list of almost 150 jobs considered by the department of employment and labour (DEL) to be in short supply.
Nsfas to decentralise
Department welcomes move, plans to set up regional, satellite offices.
Lawsuits cost health billions
Investigations stop R3 billion in fraudulent claims, parliament hears.
City face Inter reunion
Manchester City are braced for their Champions League reunion with Inter Milan at the start of an expanded tournament that will be \"so tough\" for the 2023 winners.
League Cup no inconvenience
Manchester United manager Erik ten Hag insisted he still believed English football's League Cup remained a \"significant\" competition.
State of rates in Africa
Africa’s largest economies to make changes for first time in years.
RAF not about to 'implode'
»» Improvements not sustainable without legislative changes, says Letsoalo.
Can Superbalist grow?
Shein overtakes the SA retailer, while Bash is different kind of threat.
Crochet gets sex appeal
100% cotton yarn garments do not loose shape ina cold wash.
