Complete this short check before opening the official SARS Two-Pot calculator. It helps you identify the basic withdrawal requirements and the deductions that may reduce the amount reaching your bank account.
Two-Pot withdrawal check
Check the basic requirements first
Select the answer that best matches your current situation.
Official SARS website · Opens in a new tab · The result is an illustrative estimate
Read the official SARS Two-Pot informationUnderstand your result
What can reduce your Two-Pot payout?
The amount shown in a Savings Component is a gross balance, not a guaranteed bank deposit. The retirement fund requests a tax directive from SARS, which tells the fund how much tax to deduct before paying the member.
Because tax depends on the member’s wider income position, two people requesting the same withdrawal amount can receive different net payouts. The official SARS Two-Pot tax calculator is therefore more useful than applying one flat percentage to every withdrawal.
SARS states that once the retirement fund sends the withdrawal directive application, the decision to withdraw becomes final. Review the estimated deductions and the possible effect on your retirement planning before continuing with your fund.
Basic rules
Who may be able to request a Savings Component withdrawal?
The Two-Pot system applies to eligible members of pension funds, provident funds, preservation funds and retirement annuity funds. A member may generally request money held in the Savings Component without resigning from employment or cashing out the entire retirement fund.
The standard minimum withdrawal is R2,000 before tax and possible fund charges. One Savings Component withdrawal is generally allowed per South African tax year, which runs from 1 March to the end of February. The available balance and the fund’s own processes still need to be confirmed with the relevant administrator.
A valid tax reference number is required for the SARS directive. Outstanding tax returns can cause the directive request to be rejected, while outstanding tax debt may affect the amount paid. Members who are uncertain about their tax status can check it through official SARS digital services before applying through their fund.
Frequently asked questions
Two-Pot withdrawal, tax and payout questions
Does this page submit a Two-Pot withdrawal?
No. This page provides an informational eligibility check and directs visitors to official SARS information. An actual withdrawal request must be submitted through the member’s retirement fund or fund administrator.
Does the SARS calculator guarantee the payout?
No. SARS describes the calculator result as illustrative. The final tax directive, fund administration charges, available balance, outstanding tax obligations and individual circumstances can affect the amount paid.
Can I withdraw if my Savings Component has less than R2,000?
The standard minimum Savings Component withdrawal is R2,000. A member with a lower balance will generally need to wait until the balance reaches the minimum, subject to legislation and the applicable fund rules.
Can I withdraw more than once per year?
The general rule allows one Savings Component withdrawal per tax year, not per calendar year. South Africa’s tax year runs from 1 March to the end of February.
Why might SARS reject a tax directive?
SARS may reject the directive when the member does not have a valid tax reference number, has outstanding tax returns or when identifying and tax details supplied by the fund do not match SARS records.
Will withdrawing affect my retirement?
Yes. The withdrawn amount is no longer invested inside the retirement fund and will not benefit from future investment growth. A financial adviser can help assess the immediate need against the possible long-term effect on retirement savings.