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Showing posts from July, 2024

WHAT IS A 2 POT RETIREMENT SYSTEM?

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 WHAT IS A 2 POT RETIREMENT SYSTEM? South Africa will see a major change in the retirement regime starting on the 1st of September 2024. It is a system which has come to be known as a two pot system, although it is actually a 3 pot system. This system comes into existence as a result of the intensive campaigning by the organized labour i.e Trade Unions mainly represented at the Nedlac platform. The major reason for this campaign which has ultimately resulted into the new retirement regime is to provide relief, financial relief to workers who are going through financial strain. The call to allow the workers to tap into their provident/pension funds started as far back as 2017, however, it intensified in 2020 during the Covid 19 Lockdown when the country came to a standstill and there was not much economic activity which meant a loss of earnings for the workers. Workers in South Africa are confronted by serious financial difficulties with some having their houses and cars rep

DID NELSON MANDELA SELLOUT?

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 DID NELSON MANDELA SELLOUT? July is known worldwide as Mandela Month emanating from the 18th of July being named the International Mandela Day by the United Nations as part of celebrating Madiba's birthday. The day started with the late statemen's instruction that people should dedicate 67 minutes of their time to public service, doing good for society on the 18th of July every year as a way of celebrating his birthday. The 67 minutes is a representation of the 67 years Nelson Mandela dedicated to the service of society. Later on the United Nation adopted this day and named it the International Mandela Day. The day has gained popularity and it is being celebrated or commemorated the world over. It is indubitable that Nelson Mandela has become a world icon celebrated by different people for different reasons. His legacy is a contested one with some propounding that he sold out with others on the other side advancing an argument that he did all that was possible at t