With both the Pension Funds Amendment Bill and the Revenue Laws Amendment Bill having been passed by the National Treasury, the President must sign the bills into law. However, a few steps remain in finalising the implementation of the Two Component system, which includes legislative changes to the Income Tax Act (1962) and Government Employees Pension Law. Considering these changes, the systems and process development required by administrators and the looming national elections on 29 May, the real possibility exists that the intended implementation on 01 September 2024 may not materialise.

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