Browse FAQs
Contents
General
How do I claim a deceased member's surplus scheme?
You will need to contact your late father's former employer, or the fund administrator (MIBFA), to find out how you can claim your share of the surplus. We would have expected the letters from MIBFA to explain the process.
Read moreHow does surplus money become available and were can I claim it?
In a defined contribution fund the surplus (if any) constitutes the assets in excess of the total sum of the individual shares of the members.
Read moreHow do I decide which fund to invest in?
Two things to take into consideration when choosing a fund to invest in are: 1) How long do you plan to stay invested, and 2) How can you maximise the tax benefit of the TFSA.
Read moreWhat happens if I contribute more than my annual allowable amount?
If you contribute more than your annual allowable amount of R36,000 in a tax year the amount contributed above the annual allowance will be taxed at a rate of 40%, regardless of your personal income tax rate.
Read moreWhat is the period for which the annual limit applies?
The South African tax year runs from 1 March to 28 February of the next year.
Read moreHow long will it take for my funds to be invested?
If you made a lump sum deposit, your money will be invested within 2 working days of the money reflecting in the Unit Trust bank account (a completed lump sum instruction form must have been provided).
Read moreCan I change my portfolio after signing up?
Yes you can definitely change your portfolio after signing up.
Read moreHow do I sign up?
You can sign up online in less than 10 minutes. Click here to access our online portal and follow the prompts.
Read moreLiving annuity
Can I buy a living annuity with my GEPF lump sum payout?
You cannot transfer to a retirement annuity as that would be tantamount to preserving your savings, which is not permitted once you reach normal retirement age.
Read moreTax-free savings account
What is a Tax-Free Savings Account?
Tax-Free Savings Accounts (TFSAs), which were introduced in South Africa in 2015, provide tax benefits to turbocharge your savings and grow your investments tax-free.
Read moreWhy should I open a TFSA with 10X Investments?
Opening a TFSA is a good idea. Opening a TFSA with 10X is a great idea. Our low fees, proven-track record, and transparency means you get more money when it matters most and of course, tax-free!
Read moreCan I transfer my TFSA from one provider to another?
Yes. If you wish to transfer your TFSA from one provider to another, keep in mind that such a transfer can only be made between service providers.
Read moreShould I let SARS know that I have a TFSA?
Even though no tax is payable on earnings within a TFSA, South African tax residents are obliged to disclose information about their investments to Sars when submitting annual tax returns.
Read moreCan I open a tax-free savings account in the name of a family trust or a company?
A tax-free savings account can only be opened for an individual. You can open one for each individual in a family, but cannot open one in the name of a trust or a company.
Read moreWhat is the difference between TFSAs and retirement annuities?
The key distinction is TFSA contributions are made with after-tax money and do not qualify for any deductions against taxable income.
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.