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Retirement Annuities: Two-pot system and the influence on your processing
Retirement Annuities: Two-pot system and the influence on your processing
Amanda de Bruyn avatar
Written by Amanda de Bruyn
Updated over 2 months ago
The "Two-Pot" Retirement System - LabourMan Consultants

What's the problem?

Since the two-pot system has been launched, the providers have also changed how they process the plans and commission.

Some providers like Sanlam, Old Mutual, Wealthport etc. have added product numbers for the same plans, in order to accomodate the two-pot system where one number will account for the withdrawals and the other for the continued investment. However, for the product that had a withdrawal, there will be a zero amount for commission earned.

This means you might have multiple unlinked items, presented as "Product not Found":

How can I resolve this?

You have two options:

  1. Link your new product numbers to your existing clients, in order for the unlinked items to link every time it's processed.

  2. Delet the zero rand items related to the two pot system, but please note that you will have to do this every month as these items appear on your commission statement.

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