South Africans pull R4.1bn from pension funds in 10 days since reform took effect

South Africans asked to withdraw R4.1-billion from their pension funds in the first ten days after a reform took effect on September 1 allowing fund members to make partial withdrawals before retirement, the tax service said. The "two-pot" pension policy reform is expected to spur domestic demand in the final months of this year, boosting economic growth alongside factors like a widely expected interest rate cut later this month.