Government will allow early access to pension funds from March

South African lawmakers decided to allow savers early access to their pension funds from next year, a measure that the nation’s biggest insurer expects to lead to a deluge of withdrawals. Parliament’s standing committee on finance agreed to introduce the two-pot pension system from March 1, committee chair Joseph Maswanganyi said in Cape Town on Tuesday. It will allow individuals to contribute one-third of their savings into an account that can be accessible at any time, while two-thirds must only …