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The way South Africans save for retirement is about to change

In March 2021, South Africa’s Treasury set a process in motion that will significantly change the way retirement funds are managed. Once the proposed two-pot system for retirement funds has been implemented, fund members will not have access to their savings when they change jobs or resign anymore. However, while they will have to preserve the majority of their savings until they retire they will have access to a portion of their savings in times of financial need before retirement. But the details and effects of the proposal reach a lot further than that.

If you’re an employer with a group retirement fund for your staff, a broker or a member of a retirement fund, these articles and videos will help to explain what to expect from the retirement industry’s soon-to-be new normal. www.oldmutual.co.za/2pot

Old Mutual Corporate Consultants and remuneration specialists Remchannel experts will unpack the proposed Two-Pot Retirement System. National Treasury’s proposals represent significant changes to South Africa’s retirement planning landscape, with far-reaching consequences for retirement funds, their members, and participating employers.

This will be an educational, interactive client session to explain and discuss the proposed legislation. What does it mean for retirement funds? How will it affect fund members? And what do employers need to know and do? Join our speaker panel for expert insights into the topic.

Speakers

Lindiwe Sebesho
Managing Director Designate | Remchannel

Lindiwe is an accomplished human performance thought leader with extensive experience in designing and implementing remuneration, reward, performance, and talent management solutions to drive business growth.


With a Master of Business Administration degree, a Post Grad Diploma in Labour Law, and a Bachelor of Commerce (HRM) degree, Lindiwes qualifications reflect her commitment to continuous learning and expertise in her field. She also holds the prestigious Master Reward Specialist designation as a professionalised member of the South African Reward Association (SARA).


Throughout her illustrious career, Lindiwe has held significant leadership positions in esteemed organisations such as Barloworld Group and Barloworld Equipment, Absa Group, and Alexforbes, where her exceptional abilities in integrating human capital, reward, talent and performance management strategies have played a pivotal role in supporting business growth.


Passionate about the reward industry, Lindiwe has also served as the President of SARA, a professional association dedicated to advancing total reward practices in South Africa. Her visionary leadership and wealth of experience have been instrumental in the development of reward professionals in the country.
Lindiwe has been appointed as the Managing Director (MD) designate of Remchannel, South Africas leading reward management business, with effect from 01 August 2023. In her new role, Lindiwe will continue to drive Remchannels mission of providing cutting-edge total reward strategies by ensuring that businesses have accurate and up-to-date information on remuneration, incentives, and benefit offerings across industries.


Lindiwes expertise and commitment to delivering top-notch solutions will undoubtedly contribute to Remchannels continued success, making her a valuable contributor to the company and its clients alike.

Blessing Utete
General Manager | Old Mutual Corporate Consultants

Blessing has over 24 years of experience in the employee benefits consulting industry. He las led a number of employee benefits consulting businesses over his career.


In September 2021, he was appointed as the Managing Executive of Old Mutual Corporate Consultants (OMCC). OMCC is a professional and member-focused consultancy that helps SMEs and corporates research, procure, manage, and dispense employee benefits packages.


Blessing is passionate about consulting, providing member-focused advice, building value-adding client partnerships, and is committed to delivering top-notch consulting to clients.

Michelle Acton
FASSA, CFP® Executive: Retirement Reform, Old Mutual

Michelle qualified as an actuary in 2002. After a number of years in healthcare and general management, she transitioned into the retirement fund industry. She has served as a valuator, consultant, and committee member and spent time developing innovation and distribution strategies for retirement funds. Michelle holds a Postgraduate Diploma in Financial Law, CFP, and a Certificate in Strategy from Harvard Business School.

She is Old Mutuals expert on retirement reform, overseeing the implementation of the two-pot system changes across the group, including its design and execution. She also contributes to South Africas Social Security through her roles in ASISA committees.

Disclaimer
Old Mutual Corporate Consultants is a division of Fairbairn Consult FSP 9328, a member of the Old Mutual Group. Fairbairn Consult is a licensed FSP. Registration Number 2015/036102/07. VAT number: 4200193235. Jan Smuts Drive, Pinelands 7405, South Africa. The information contained in this document is provided as general information and does not constitute advice or an offer by Fairbairn Consult. Every effort has been made to ensure the provision of information regarding these financial products meets the statutory and regulatory requirements. However, should you become aware of any breach of such statutory and regulatory requirements, please address the matter in writing to: The Compliance Officer, Fairbairn Consult PO Box 1014, Cape Town 8000, South Africa.

REMCHANNEL (PTY) LTD IS A MEMBER OF THE GROUP