National Treasury is now in talks with several role-players to, in future, allow South Africans to access a portion of their retirement savings, to help them weather the Covid-19 pandemic.
According to Minister Tito Mboweni, the matter has already been discussed at several levels of government.
He says the initiative would allow workers, whose cash-flows have been negatively affected by the lockdown, have access to much-needed funds, to pay expenses that have been piling up.
The amendment to the Pension Funds Act will enable pension fund members to leverage this asset to their own benefit.
Read the Minister’s statement here.
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Minister @tito_mboweni to brief the media on the economic support package as announced by @PresidencyZA https://t.co/aTgwW9dn38
— National Treasury (@TreasuryRSA) July 28, 2021
Media Statement on Minister @tito_mboweni's media briefing on economic support package as announced by @PresidencyZA. For the full statement and supporting Annexure click here: https://t.co/5wDMcj9opv pic.twitter.com/3EXMIJF1sA
— National Treasury (@TreasuryRSA) July 28, 2021
