JOHANNESBURG - Today marks the roll-out of South Africa’s two-pot retirement system, aimed at providing greater flexibility and accessibility in managing pension funds.
The Congress of South African Trade Unions (COSATU) has welcomed the reform, noting it offers much-needed relief by allowing workers limited access to their pension funds without resigning.
In contrast, the South African Federation of Trade Unions (SAFTU) has raised concerns that the system might undermine long-term savings and potentially weaken workers' financial security.
To explore these perspectives, SAFTU's Trevor Shaku and COSATU's Matthew Parks had a discussion with eNCA.