Withdrawing from the Fund

 

When you resign, abscond, are dismissed or retrenched from your employer and you decide to leave the Road Freight industry – your total vested retirement fund savings/fund credit will be paid out to you as a lump sum

TSFR - Withdrawing From The Fund

When you exit the Fund you can:

  • Transfer your benefit to your new employer’s Fund;
  • Transfer your benefit to a preservation or retirement annuity fund of your choice; or
  • Your fund savings can be paid as a cash payment into your bank account.
  • Defer the payment of your benefit and retain it in the Fund as a paid-up benefit

Note on retrenchment

If you are involuntarily retrenched – the exit is seen as a retirement from the Fund and the benefit is paid as a retirement benefit.

The first R500 000 can be taken tax free.