Preservation retirement fund still unwelcome
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The working class of Keetmanshoop, Aroab, Tses, and Berseba have rejected a draft regulation to preserve retirement benefits.
It is proposed in the new Financial Institutions and Markets Act (FIMA), governing pension funds, that at least 75% of a pension must be retained as retirement savings until the retirement age of sixty.
This means they will only be allowed to withdraw up to 20% of these savings before retirement.