President Cyril Ramaphosa has signed into law the bill which will implement the new two-pot retirement system.
It will come into effect on 1 September.
The new system will allow people to access some of their retirement savings without having to resign from their pension funds.
In a statement the Presidency said: “The act requires pension funds to amend their rules, adjust their investment portfolios and prepare administrative systems for pension fund members to apply to access portions of their pension funds from 1 September 2024.”