By:Carmen Forster This is the fourth installment in the series on ‘Understanding the Context of Pensions in Namibia in 2023’. Our first three articles covered Pillars 0 and 2 of the World Bank Pension Provision Model. In this article, we will focus on Pillar 1, which relates to contributory national social security retirement funds that […]
By: Carmen Forster Retirement considerations The Income Tax Act, Act No 24 of 1981 (the ITA) indicates how retirement benefits are to be taxed when a member retires. Provident funds If the member is retiring from a provident fund, he/she may choose to receive up to one-third of his/her retirement benefit as a tax-free […]
By:Carmen Forster This is the third article in the series on ‘Understanding the Context of Pensions in Namibia in 2023’. We have been looking at the Namibian pension provision per the Pillars defined in the World Bank Pension Provision Model. The first article covered Pillar 0 and we commenced with a consideration of Pillar 2 […]