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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 Retirement Reform Executive Michelle Acton, Old Mutual Corporate Senior Intermediary Consultant Jody Kriel, and Old Mutual Corporate Business Development Executive Oletilwe Mogashoa will provide expert insights into National Treasury’s proposed changes to South Africa’s retirement planning landscape. This will be an interactive session. Please send through your questions.

Speakers

Oletilwe Mogashoa
Business Development Executive, Old Mutual Corporate Consultants

Oletilwes responsibilities entail leading a team in acquiring consulting opportunities across investment, employee benefits, actuarial and post-retirement medical aid consulting. She holds a bachelors degree in finance from the University of Johannesburg, and a postgraduate diploma in management specialising in Corporate Governance from Monash University.


She is an advocate and ally for women in the corporate sector. Her work in womens empowerment extends beyond the boardroom to an online talk show called Secrets to Success in which successful women share their career achievements. Oletilwe has served on the Board of the Old Mutual Provincial Management Board as the Chairperson of the CSI Investment Committee. Furthermore, she runs Owning It2, a company that is committed to providing mentorship and career development to disadvantaged students.

Jody Kriel
Senior Intermediary Consultant, Old Mutual Corporate

After studying Business Science at the University of Cape Town and earning his BComm through Unisa, Jody started with Old Mutual Corporate on a Learnership Program in 2010. He has been in the Employee Benefits space ever since, holding various roles in the distribution business since then.


In his current role, he deals primarily with benefit consultants, independent intermediaries as well as tied agents and employee benefit specialists, providing product support to partner with the adviser in providing solutions to their clients Employee Benefits needs. He has held this position for five years.


Outside of work Jody enjoys spending time with friends and family, and sharing his love of good food and wine. A keen sportsperson and outdoorsman, he can often be found hiking and trail-running around Cape Town.

Michelle Acton
FASSA, CFP® Retirement Reform Executive

Michelles experience in the retirement fund industry includes working as a retirement fund valuator, consultant to a number of large retirement funds and large employer groups, as well as being a member of several industry- and company-related committees. Aside from being a qualified actuary, she obtained her postgraduate diploma in 2008 in Financial Law, CFP and in 2021 she achieved a Certificate of Specialisation in Strategy from the Harvard Business School. Michelle is Old Mutuals expert on retirement reform, driving conversations with key stakeholders. She is responsible for the implementation of the proposed Two-Pot Retirement System changes across the Old Mutual group.


She is also an avid endurance runner, with 11 Comrades Marathons under her belt. Michelle enjoys relaxing with her friends and a glass of wine or two over the weekends.