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"savings withdrawal benefit"

has the meaning as defined in section 1(1) of the Income Tax Act);

[Definition inserted by section 21(e) of the Pension Funds Amendment Act, 2024 (Act No. 31 of 2024), GG50968, dated 23 July 2024 - effective 1 September 2024 as per Proclamation Notice 175, GG51122, dated 26 August 2024]