Two-Pot Retirement System (Draft Revenue Laws Amendment Bill & Draft Revenue Administration and Pension Laws Amendment Bill)

The National Treasury and SARS has published the revised 2023 Draft Revenue Laws Amendment Bill and 2023 Draft Revenue Administration and Pension Laws Amendment Bill for comments.  These draft bills provide the necessary legislative amendments required to implement the first phase of the “two-pot” retirement system, they also take into account public comments received on the 2022 Draft Revenue Laws Amendment Bill published on 29 July 2022, and make provision for the name change from the word “pot” to the word “component” in the bills to be introduced formally by the Minister in Parliament. However, the word “pot” is still used in the colloquial form to describe the reform itself.

Find here: Media Statement
                  2023 Draft Revenue Laws Amendment Bill
                  2023 Draft Revenue Administration and Pension Laws Amendment Bill
                  Draft Memo on objects of 2023 Draft Revenue Administration and Pension Laws Amendment Bill - 9 June 2023
                  Draft Explanatory Memorandum on the 2023 Draft Revenue Laws Amendment Bill

Comments can be emailed to the National Treasury at [email protected] and SARS at [email protected] by no later than Saturday, 15 July 2023.