Two-pot system's mixed bag of results

JOHANNESBURG - Some South Africans have been left empty-handed after making withdrawals from their savings pot.

The South African Revenue Service has processed more than 1 million applications for tax directives, related to withdrawals under the new two-pot retirement system.

READ: High traffic volumes for two-pot claims

More than 21 billion rand has been paid out since the 1st of September.

But, many beneficiaries are underestimating the tax implications.