Can I Withdraw From GEPF
Can I Withdraw From GEPF
The GEPF is one of the largest funds in South Africa providing retirement benefits for retirees in the public sector. The GEPF ensures the employee enjoys a secure retirement. However, a situation may arise where a member can consider withdrawing from their pension fund before the official retirement age approaches. This post will assist you in how you can withdraw from our pension funds.
You are only eligible to withdraw from GEPF under specific conditions because the GEPF does not allow early withdrawals or lump sum withdrawals like savings accounts.
How The Two-Pot System Is Implemented
The implementation of the two-pot system will not have a detrimental impact on the financial security of the Fund. When a partial withdrawal is made by a member, it corresponds to a reduction in the Fund’s obligation to that member. Under the two-pot implemented system, you can only withdraw just one-third of your retirement the remaining will be distributed as a fixed monthly payment,
At What Age Can One Withdraw From GEPF
The required age one can get access to their withdrawal is 55 years and above
Requirement Needed to Make Withdrawals From GEPF
- A completed form of withdrawal form(Z102)
- Original certified copy of an ID of member and passport
- A completed particulars of ACB bank(Z894)
How Long Does It Take To Get Your Remittance From GEPF
Once the Government Employee Pension Fund receives your required documents it won’t take more than 60 days that is 3 months to process your claim.
READ HERE; Who qualifies for a South African state pension?
Client Centre
GEPF Administration Office
Building 2A, Trevenna Campus
Corner Meintjies and Francis
Baard Street
Sunnyside, Pretoria
Contact Details
Toll-free number: 08 00 117 669
Fax; 012 326 2507
Email: enquiries@gepf.co.za
Postal Address
GEPF Private Bag X63,
Pretoria,
0001
Visit the official website for more information and also do not hesitate to comment in the suggestion box below. Hope the information provided below is fruitful.