National Treasury has provided more details on its approach and planned timelines concerning the proposal to allow for limited pre-retirement withdrawals from retirement funds. In a statement on Wednesday (11 August), Treasury said that even before the advent of Covid-19, the government recognised that many members may need to access part of their savings in unexpected circumstances. “It is for this reason that the minister of finance noted in the 2020 Medium Term Budget Policy Statement (MTBPS) and 2021 budget that consideration is being given to allow limited pre‐retirement withdrawals from retirement funds under certain conditions, provided that this is accompanied … Continued
