SOUTH Africa’s largely consumer-driven economy is likely to get a financial stimulus from two-pot withdrawals, as the new pension system takes effect from September.
However, it all depends on how much is withdrawn. Big banks, asset managers and economists are expecting withdrawals from the ‘savings pot’ of pensions totalling between R50 billion and R100 billion in the first year, which many agree could provide another tonic to economic growth. – moneyweb.co.za