State Managed Pension Fund Could Demand 12% of Your Earnings, New Government Plan
The Social Development Department revealed its recent Green Paper plan in which it describes why this would be done. On Wednesday, 18 August, the department gazetted a Green Paper on Comprehensive Social Security and Retirement Reform. The paper projects the design of a National Social Security Fund (NSSF). Read also This will be a Government-managed fund that will supply disability, retirement and unemployment benefits. The current salary ceiling is earnings of R276 000 per annum....