GEPF

Can I Withdraw Money From GEPF

The Government Employee Pension Fund(GEPF) is one of the largest pension funds, originated to manage and administer pension and other related pension benefits for government employees. Many members of GEPF wonder about the possibility of withdrawing money from their funds, whether due to financial challenges or reasons known to them. However, the rules regarding withdrawals are specific and members are obliged to to conscious of the under which the funds can be accessed.

In most cases, members of GEPF are allowed to withdraw money due to these reasons, retirement, resignation, or any other life events such as death or disability. It is vital to explore the regulation regarding partial withdrawals and full cash out and associated tax implications to make an informed decision about the accessibility of your pension benefits.

How Much Can I Withdraw From My Account

Members are allowed to access a percentage of their savings when the two-pot system has been implemented. It will only allow members to access a portion of their retirement savings. One-third of their retirement funds are been preserved in a savings component that t can be accessed anytime and on any day while the remaining of two-thirds are preserved for retirement.

Pension Payment Dates

Take note of the pension dates in case you want to make withdrawals. Below are the dates given:

30 April
31 May
30 June
30 July
31 August
30 September
29 October
30 November
31 December
31 January
28 February
31 March

How The Two-Point System Work

To be brief, the two-point system gives its members access to some of their savings for urgent use, while safeguarding the steady and reliable income upon their retirement. It’s an outlook that carefully balances the need for long-term retirement.

Essentials Needed To withdraw money From GEPF

To withdraw money from your GEPF account take note of these and provide the legal document to it

A complete form of a withdrawal form
Original certified copy of ID number or Passport number
Completed ACB bank particulars form

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

Withdrawing money from your GEPF account is strictly governed and helps to sustain employees’ benefits. Do not hesitate to visit the official website when having troubles as well as contact the fraud helpline at(0800 203 900)

Linda Nartey