DStv Channel 403 Friday, 08 November 2024

Two-pot system | 3,000 withdrawal claims a day

JOHANNESBURG - It's been nearly two months since the two-pot system came into effect, with South Africans being able to withdraw from their retirement savings pot.

At Old Mutual, over 200,000 claims have been paid out, totalling more than R2-billion.

The average claim value is R13,000.

Old Mutual says it expect these levels to continue, with the daily average being over 3,000 claim requests.

It says research shows members plan to use the money for debt repayment, emergencies and medical expenses.

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