Will age be a factor in accessing my funds?

Yes, if you belonged to a Provident Fund or a Preservation Fund, remained in the same fund, and were 55 or older as of 1 March 2021, you are automatically opted out of the two-pot system. You will have the opportunity to opt in but ONLY for 1 year, until 1 September 2025.

Your options are:

• To continue to contribute to the vested component (until you retire or leave the fund) or
• To participate in the two-pot system and split all new contributions between savings and retirement components. You will then no longer be able to contribute to the vested component.

If you were over the age of 55 years on 1 March 2021 and became a member of the Provident or Preservation Fund after 1 March 2021, you are automatically opted in.

Pension Fund members and Retirement Fund members are automatically opted in, regardless of age.