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Before the age of 55
You can make one withdrawal from your preservation fund. It can be a partial or full withdrawal. You will be taxed on this withdrawal according to a sliding tax table.
If you transfer to EasyEquities from another preservation fund and you have already taken a withdrawal from the previously preserved money, the previous withdrawal will count as your one withdrawal, and you will not be able to withdraw from the investment again until you retire.
After age 55
The amount you are able to withdraw will depend on the kind of fund you were initially invested in, as each have different allowances. On these withdrawals you get R500,000 tax free once off and then the balance is taxed based on a sliding scale.
If you transferred your pension fund into a preservation fund, you are able to access 1/3 of the investment should you wish. The remaining two thirds of the fund must be transferred into a life or living annuity in line with your needs.
If you transferred your provident fund into a preservation fund, you may be able to withdraw 100% of the portion of the fund that was invested prior to March 2021 when legislation changed. You are only able to access one third of the investment which took place after March 2021. You can read more about this change here.
Should you wish to withdraw from the fund before your retirement please complete this form.
You may withdraw the full amount from your investment should you officially emigrate with the South African Reserve Bank and if you become permanently disabled or incapacitated and can no longer work