Savings Pot withdrawals

If you are considering taking a Savings Pot withdrawal from your Fund benefit, please remember the following:

1. If you have previously taken a Savings Pot withdrawal and did not pay tax (or didn't pay sufficient tax) on this withdrawal, then SARS is likely to require the tax (and any other arrear tax you owe SARS) to be deducted from your next Savings Pot withdrawal (referred to as a SARS IT88 directive). This means that you may only receive a small payment or no payment at all (depending on the amount of tax you owe SARS).

2. To receive a Savings Pot benefit from the Fund, your personal details held by the Fund and especially your cellphone number must be correct. Please note that any such details must be updated though your Human Resources Departments and you cannot approach the Fund’s Administrator directly to update your details.

3. You are only permitted to take one Savings Pot withdrawal in each tax year.

4. It is important that you consider the information provided on the Two Pot information page.​

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​​Risk benefits and contribution allocations effective 1 April 2026

The Fund's death, disability and funeral benefits are normally reviewed effective 1 April each year. The Trustees have, however, extended the current benefits unchanged to 31 May 2026 (other than an increase in the maximum disability benefit from R14.7 million to R15.3 million).

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The total contributions to provide these benefits will reduce by 0.085% of pensionable salaries effective 1 April 2026. This saving will be allocated to member Fund Credits.

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For further details please see the Fund's March 2026 Newsletter or the Fund's Death, Disability and Funeral Benefit counselling document.​​​​​​​