South Africa has introduced a new ‘dualfund’ retirement system, with contributions split into a savings fund and a retirement fund, giving members a financial buffer during hardships and ensuring assets for postretirement life remain untouched until required. A third of contributions will form the savings component, while the remaining twothirds will be allocated to the retirement segment and can only be accessed upon retirement. Funds accrued prior to September 2024 will continue to be protected. However, there are concerns from experts that people could end up dipping into their savings fund too frequently and damaging their longterm financial safety.
