Michelle Acton Explains The Two-Pot Retirement System - Risks & Benefits
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The new ‘Two Pot Retirement System’ comes into effect soon. Michelle Acton, a Retirement Reform Exec at Old Mutual, explained to our Head of Financial Education, John Manyike, how the new system will allow easier access to a portion of your retirement savings in an emergency. But with that benefit comes certain risks.
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Thanks for listening! Interested in getting more financial education? Visit our website for free resources. You can follow us on X, Facebook, Instagram, TikTok, and YouTube.
Chapters
- 00:22 Why is it important to save for retirement?
- 01:45 What is the Two-pot Retirement System?
- 03:37 What is a placement ratio?
- 05:56 Michelle explains the Two-Pot Retirement System in depth.
- 10:21 What happens to contributions on the 1st of September 2024?
- 11:39 Tax implications of accessing your money on the 1st of September 2024.
- 18:14 Implications of those over 55 years on the 1st of September.
- 21:17 Two-Pot and marriage contracts.
- 21:51 Navigating the Two-Pot system and divorce.
- 23:36 What is the impact of resigning before and after the 1st of September?
- 24:36 Impact of accessing your retirement before retiring.
- 26:38 Michelle's three tips for saving towards retirement
