Two-pot retirement system | Warning to use money wisely

CAPE TOWN - Withdrawing your money from your retirement fund isn’t a bad idea, but those who are doing so should do it for the right reasons.

That's the word from Cape Peninsula University of Technology financial expert, Professor Maarten van Doesburgh.

WATCH: Two-pot retirement system | Workers dive into pension savings pots

Cash-strapped South Africans across the country are taking full advantage of the two-pot system with many saying it will go a long way despite the future implications.

Experts advise that people can still add to their savings after withdrawing money by paying extra to make up of the depleted funds.

• eNCA’s Nobesuthu Hejana reports.