Can I access my money in the savings component from 1 September 2024?

Legislation allows you to access your money from your savings pot, however, keep in mind:

• You can only do one withdrawal per tax year, i.e. 1 March to 28 February.
• The minimum amount is R2 000.
• The savings withdrawal is subject to marginal income tax.
• The savings withdrawal is subject to an administration fee.
• Your vested component will provide initial capital for your savings component of 10% of your fund balance on 31 August 2024, capped at R30 000, and will be allocated to your savings component. You need a balance of at least R2 000 before you can make a withdrawal.

Thinking of withdrawing? You can use our two-pot calculator to help with your calculations.