The National Treasury announced recently that Government has agreed to delay the implementation of laws governing the tax treatment of retirement fund contributions.
The law was originally set to be implemented 1 March 2015. For now, the delay will be for a year to allow for further consultations between treasury and the National Economic Development and Labour Council (NEDLAC), however the implementation date may be moved to 1 March 2017 if no agreements are reached before end June 2015.
It is currently unsure if this postpone will result in an entirely new model being drafted or a continuation of the implementation of Phase 1 of the Retirement Reform.