Browse FAQs
Contents
Business
What happens to the employer contribution when I resign?
You get the company contribution invested in your fund plus the net investment return earned thereon (ie you get your full fund balance - net of any tax that may be due - when your resign).
Read moreHow long will my pay-out take after resignation?
Assuming your tax affairs are in order, a pay-out usually takes around 4-8 weeks from that point. If you belong to an industry (bargaining council fund) then there is usually a mandatory waiting period which can be up to six months long.
Read moreHow can I determine the value of my provident fund pay-out?
You will receive the total value of contributions (net of any administration fees and risk premiums deducted) invested in your fund account plus the investment return on those contributions. The investment return may be positive or negative.
Read moreWhy does pension fund pay-out take so long to be finalised?
The reason for this is that lump sums are taxed on either the withdrawal or retirement lump sum tax table. These tables are applied on the cumulative amount of all the lump sums you may have received from this and/or previous retirement funds.
Read moreWhat is the provident fund pay-out waiting period?
It can take between 4 and 12 weeks for your funds to be paid out to you, depending on the efficiency and motivation of your fund administrator. Check with your fund administrator for a specific answer.
Read moreWhat is the tax percentage when claiming my provident fund?
The first R25 000 is paid out tax-free, the balance to R660 000 is taxed at 18%, the balance to R990 000 at 27% and the remainder at 36%.
Read moreHow will I be taxed if I withdraw my pension fund?
f you withdraw, the first R22 500 is not taxed. The balance up to R600 000 is taxed at 18%, the balance up to R900 000 at 27%, and the remainder at 36%.
Read moreGeneral
How long does a death benefit take to be paid out?
It can take up to a year for a retirement fund death benefit to be paid out, as the trustees must ensure that all financial dependents are provided for.
Read moreHow much interest will my investment earn?
This falls into the ambit of financial planning, which we cannot do in this forum (we would need to do a full financial needs analysis). Factually, however, you can presently expect to earn interest of around 5%-6% pa.
Read moreHow long does Alexander Forbes take to pay out?
It usually takes between 4 and 12 weeks, to process a pay-out.
Read moreWhat can I do to find out if I have surplus funds due to me?
You will have to contact your bargaining council, or your industry's retirement fund administrator, to find out if you have surplus funds due to you.
Read moreHow much tax will I pay on my GEPF resignation benefit?
How much tax will I pay on my GEPF resignation benefit?
Read moreWhat is a tax directive?
Cash lump sums paid out by retirement funds are subject to either withdrawal or retirement lump sum tax (depending on whether you are simply withdrawing, or you are retiring).
Read moreRetirement annuity
Can a person have more than two retirement annuities?
Investors can take out as many RAs as they choose, with the same or different providers. They can all be accessed at different times. However, the rules relating to the minimum amount requiring annuitisation (R247,500) are applied per fund
Read moreUnit trusts
Who should consider using a unit trust?
You should consider a Unit Trust if you want to invest discretionary (non-retirement) savings in a diversified and professionally-managed portfolio, either to provide an income in retirement or with a particular savings goal in mind.
Read moreHow can we 10X Your Future?
Begin your journey to a secure future with 10X Investments. Explore our range of retirement products designed to help you grow your wealth and achieve financial success.