The Pension Fund Amendment Bill is expected to be submitted to Parliament for final approval on Thursday.
This is one of the bills that will be debated and considered in the House of Representatives after the National Council of Provinces (NCOP). It was sent back to Congress with changes.
This is one of two bills aimed at making provision for a so-called two-pot system, allowing pension plan members to access a third of their benefits from a savings pot.
The Standing Committee on Finance adopted this report. NCOP Amendments will be tabled on Monday, which will take the report and bill to the House of Commons for final approval.
If passed by Congress today, the bill will be sent to the President for signature.
If the bill is signed into law by the president and passed in conjunction with the Revenue Law Amendment Act, which has already passed both houses of Congress, the two-pot pension reform system will go into effect on January 1. September of this year.
On the other hand, members of parliament NCOP Delegates are expected to bid each other farewell todayinfrared this last seat 6th Parliament.
It is expected that various considerations will be made in both houses of Congress. priority Bill for final approval.
The bills scheduled to be submitted to Parliament today include:e Pension Fund Amendment Bill and Basic Education Law Amendment Bill (Bella Bill), amended by NCOP It was then sent back to Congress for consent.
And one of the bills is NCOP This includes the General Information Law Amendment Bill and the Electricity Regulation Amendment Bill.
Both chambers will conclude their final session with farewell speeches, just 13 days before the watershed general election scheduled for the 20th. May 29th.
Concerns about two-pot retirement system remain