GEPF

Can I Withdraw My Pension Early

Arranging for retirement is an important part of financial stability, but at times life throws unexpected life challenges that require you to get access to your funds earlier than expected. Individuals wonder if they can get a little bit access of to their pension savings before reaching their retirement age. This article will assist you in understanding whatever you need to know when it comes to withdrawing your pension

READ HERE: How do I calculate my minimum pension?

Remittance Dates Of GEPF

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 Withdrawals Of Pension Are Been Taxed

Transfers between the different pots within the Two-Pot system are not considered taxable transactions since no money leaves the fund during these transfers. However, when it comes to partial withdrawals from the savings pot, it is important to note that these withdrawals are treated as additional income for the member, and they are subject to taxation at the member’s marginal tax rate.

Why Withdrawals From The Saving Pot Being Taxed By PAYE Rates

The two-pot system introduces a provision for early withdrawals from the savings pot, which are treated as receiving part of your pension ahead of schedule. Such withdrawals are taxed at your current rate, aligning with the taxation of your salary, because you are still within an income-earning phase.

Benefits Of the Government Employee Pension Fund

Resignation benefits
Retirement benefits
Unclaimed benefits
Child pension
Spouse pension
Death benefits
Funeral benefits
Divorces benefits

What The GEPF Invests In

The are four assets that the Government Employee Pension Fund invests

Equities
Fixed income
Properties and,
Isibaya Fund

Client Centre

GEPF Administration Office

Building 2A, Trevenna Campus

Corner Meintjies and Francis

Baard Street

Sunnyside, Pretoria

For more clarification and updates visit the official website of the Government Employee Pension Fund and also do not hesitate to report any fraudulent activities by contacting the fraud helpline at (0800 203 900)

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