The GEPF paid out R10.6 billion in two pot savings withdrawals in the first few months after the system launched. The average payment was approximately R27,500, well above the industry average for private sector funds. If you are a government…
If you are a government employee waiting on a GEPF two-pot withdrawal, you already know the frustration. While members of private sector pension funds were receiving payments within five to seven business days of the system launching on 1 September…
By the time March 2026 arrived, NMG Benefits had processed more than 113,000 savings pot withdrawal applications since the two pot system launched. In the first two weeks of the new tax year alone, another 13,555 came in. If your…
Most South Africans know the two pot system exists. Far fewer know exactly what they need to do to actually get money out of it. Since the system launched on 1 September 2024, the most common problems have not been…
Some South Africans submitted their savings pot claims in September 2024 and had money in their accounts within five business days. Others waited six weeks and were still chasing their fund administrators for updates. The difference was not luck. It…
Before 1 September 2024, if you needed money urgently and your only real asset was your retirement fund, your options were grim. You could resign from your job to access your savings, or borrow against your fund if your employer…
By the end of the first six months after the two-pot system launched on 1 September 2024, South African fund members had submitted hundreds of thousands of savings pot claims. Many went smoothly. Many did not. The ones that hit…
Since 1 September 2024, more than a million South Africans have submitted withdrawal claims against their savings pot. Some received their money within days. Others hit administrative walls, unexpected tax bills, and outright confusion about what they were even entitled…
There is no single universal two-pot system application form that works across all retirement funds in South Africa. That is the first thing to understand, because many members spend time searching for a SARS or National Treasury form that does…
By September 2024, South African fund members had submitted over 1.2 million withdrawal claims in the first few weeks alone, according to reports from major fund administrators. That rush to access cash told a clear story: millions of people knew…