🇿🇦 Built for South Africans

Two-Pot Retirement Calculator

Calculate your withdrawal amount, see the tax impact, and get independent advice. No jargon. No upselling. Just sorted.

Calculate Your Withdrawal

Enter your details below to see how much you can withdraw and what tax you'll pay.

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🎯 Quick Facts

  • Savings Pot: 1/3 of your fund, accessible once a year
  • Retirement Pot: 2/3 of your fund, locked until retirement
  • Max Withdrawal: 10% of savings pot per year
  • Tax: Treated as part of your income, taxed accordingly

⚠️ Before You Withdraw

  • You can't reverse a withdrawal
  • Reduces your retirement savings
  • Tax can be up to 30% or more
  • Consider alternatives first

Should You Withdraw?

Answer these questions to get independent advice

1. Why do you need the money?

2. Do you have an emergency fund?

3. If paying debt, what's the interest rate?

4. How many years until retirement?

How the Two-Pot System Works

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Savings Pot (1/3)

One-third of your retirement fund goes into the "Savings Pot". You can withdraw from this pot once per tax year, but only up to 10% of the pot's value.

  • Accessible once a year
  • 10% maximum withdrawal
  • Taxed as income
🔒

Retirement Pot (2/3)

Two-thirds goes into the "Retirement Pot". This money is locked until you retire (age 55+) or leave your job. It's designed to protect your retirement income.

  • Locked until retirement
  • Cannot be withdrawn early
  • Protects long-term savings
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Tax Treatment

Withdrawals from the Savings Pot are added to your annual income and taxed at your marginal rate. This can be 18% to 45% depending on your income bracket.

  • Added to income
  • Standard SARS rates apply
  • Can push you into higher bracket

Example Scenario

Fund value: R500,000

  • Savings Pot: R166,667 (1/3)
  • Max withdrawal: R16,667 (10% of savings pot)
  • Tax (if earning R600k/year): ~R4,500
  • Net in your pocket: ~R12,167

Frequently Asked Questions

When can I withdraw from my savings pot?

Once per tax year (March 1 - Feb 28). Your first withdrawal can be made starting September 1, 2024.

How much can I withdraw?

Maximum 10% of your savings pot value per year. The savings pot is approximately 1/3 of your total fund value.

What if I have multiple funds?

You can withdraw from each fund separately, once per tax year per fund, up to the 10% limit for each.

How long does the withdrawal take?

Typically 5-10 business days after approval. Some funds may take longer. Tax is deducted before payout.

Can I cancel a withdrawal?

No. Once submitted and processed, withdrawals cannot be reversed. Think carefully before withdrawing.

Does this affect my pension when I retire?

Yes. Every withdrawal reduces your retirement savings and future pension income. Consider long-term impact.