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The government's standing committee on Finance has once again changed the implementation date of the so-called two-pot retirement system. Initially, the system was scheduled to be live on March 1, 2024, which caused some concern in the asset management community due to the short timeline for the new system.
“Therefore, the effective date of the RLAB cannot predate the implementation of the PFA Bill. Given that the PFA Bill has not yet been tabled, there is a concern that the legislative process will not be completed by 1 March 2024,” the minister wrote.
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