Alexforbes says it will be ready for the Two Pot system’s implementation on 1 September. (Supplied/Alexforbes)
Alexforbes, SA’s largest retirement fund administrator, expects about R55 billion in outflows from the institutional pension fund industry during the first year of implementation of the so-called two-pot retirement system.
The industry estimate is an extrapolation of the estimated withdrawals Alexforbes expects to see from its R525 billion in assets under management and administration as at end-March 2024.
CEO Dawie de Villiers says the general institutional pension fund industry is likely to experience similar withdrawals.
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