National Treasury is now in talks with several role-players to, in future, allow South Africans to access a portion of their retirement savings, to help them weather the Covid-19 pandemic.

According to Minister Tito Mboweni, the matter has already been discussed at several levels of government.

He says the initiative would allow workers, whose cash-flows have been negatively affected by the lockdown, have access to much-needed funds, to pay expenses that have been piling up.

The amendment to the Pension Funds Act will enable pension fund members to leverage this asset to their own benefit.

Read the Minister’s statement here.

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