Retirement fund administrators will soon be able to officially implement the two-pot system for their members after the National Assembly passed the Pension Fund Amendment Bill (PFAB) with amendments on Thursday.
The passing of the PFAB, which allows for the amendments of retirement rules, will only require President Cyril Ramaphosa's assent before it becomes law.
Meanwhile, the Revenue Laws Amendment Bill (RLAB), which officially introduces the retirement system, also requires Ramaphosa's assent after it was passed by the National Council of Provinces earlier this year.