The objective of the Pension Funds Amendment Bill is to amend the Pension Funds Act and other related legislation to allow retirement funds to implement amendments to the Income Tax Act.
CAPE TOWN - Political parties in the National Council of Provinces support the Pension Funds Amendment Bill, which could soon allow South Africans to access their pensions while still employed.
The NCOP considered and adopted the legislation, with all parties showing their support for the policy. Chairperson of select committee on Public Enterprises and Communication, Mmamora Mamaregane, said people should be educated about the tax implications.
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