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UPDATE: Desperate South Africans drain R43 billion from ‘Two-Pot’ retirement systemThe South African Revenue Service (SARS) has announced that to date it has received 2 664 279 applications for tax directives for withdrawals from the Savings Withdrawal Benefit of the two-pot system.
More than 2.4 million South Africans have applied to withdraw money from their savings components under the two-pot retirement system, with a staggering R43.4 billion paid out to date.
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