Treasury on pension fund system

eNCA reports that treasury says it’s working on overhauling the pension fund system that could allow for up to a third of funds to be withdrawn, tax-free. A bill to this effect could be tabled in Parliament as soon as October when the medium-term budget policy statement is presented. Treasury says discussions with trade unions are advanced as it looks for ways to cushion the blow of financial hardship as a result of the pandemic.

Releated

SAMWU concludes wage negotiations

TimesLive reports that SA Municipal Workers’ Union says the recently concluded salary agreement for workers across the country’s 257 municipalities has secured an increment related to inflation in year two and three of the agreement. The union said this compared with the original below-inflation increase offered by the employer. The union said the three-year agreement […]