Latest News Icon

Further Update On Retirement Reform

Further to our update on 22 November 2015 on Mentje Larney’s presentation on behalf of SARA to the Finance Committee on Retirement Reform, it should be noted that the Parliament has voted in favour of implementing the annuitisation of provident funds effective 1 March 2016. This means that all the retirement fund changes promulgated in the 2013 Taxation Laws Amendment Bill and amended in the 2014 Taxation Laws Amendment Bill, will come into effect in 2016 as initially planned.

Find below a copy of the full bill and explanatory notes released by Treasury:

  1. Advantages Of Reforms
  2. Taxation Laws Amendment Bill A-List
  3. Taxation Laws Amendment Bill B-Bill
  4. Additional Considerations
  5. Annexure A: Q&A
  6. Annexure B: Impact Of Annuitisation
  7. Annexure C: Data On Members & Net Pay
  8. Annexure D: NT Consultation Responses