Browse FAQs

Business

How do I obtain a withdrawal form other than from my employer?

You can only draw your provident fund if you resign from your employer. If you have resigned and your employer refuses to help you then you must approach the fund administrator directly, and request the form.

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Is it legal for my employer to withhold payout of my fund?

In terms of section 37D(b)(ii) of the Pension Funds Act, a fund may deduct from a member’s benefit payable in terms of the rules of the fund.

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How do I claim from my Alexander Forbes Provident Fund?

he must get the withdrawal notification form, fill it in, attach the necessary supporting documents, return it to the employer, who will counter-sign and send it to Forbes for processing.

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Why does pension fund pay-out take so long to be finalised?

When you withdraw or retire from your employer's pension fund, and opt to receive a portion as a cash lump sum, the administrator must revert to SARS for a tax directive.

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How long does your first provident fund withdrawal take to be paid out?

It normally takes 14 to 21 business days for the funds to be paid out at 10X

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How long does it take for thefund to pay out the withdrawal benefit?

Provided your tax affairs are in order, and you have submitted all the required documents, it normally takes 10 business days for 10x to pay out the funds.

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How long does it take to receive your provident fund pay-out?

it normally takes 14 to 21 business days to receive your provident fund pay-out. If it takes longer, you should follow up with the administrator to see what is holding up the process.

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How will my provident fund withdrawal be taxed?

You will be taxed on R25 000. The first R25 000 of your provident fund withdrawal is not taxed, so if this is your first (retirement fund) withdrawal you will pay no tax, If it is your second, you would most likely pay tax at 18%.

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General

How do I claim the surplus of my late spouse?

A surplus apportionment assumes that there is a surplus to be apportioned. This is not a given for every retirement fund. If there is a surplus, you need to contact the responsible fund administrator, to prove your claim.

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How to invest with 10X Investments

Figuring out how to save for your future can be overwhelming. At 10X, we don’t complicate what can and should be simple.

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Living annuity

Do I have enough retirement savings to retire at age 58?

is 4,1 million rand enough to retire at 58 years of age?

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What happens to my living annuity when I die?

Any residual investment value is distributed among your beneficiary(s).

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Preservation fund

How will the proposed preservation fund structure affect me?

The laws around compulsory preservation have not yet come into effect, and are still under discussion.

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Retirement annuity

How does tax work on a Retirement Annuity?

Retirement annuities are tax-efficient investment vehicles, meaning that they come with tax rebates for investors.

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What is the best retirement annuity for my pension?

An RA (retirement annuity) is a pre-retirement product. You should discuss your options with a financial advisor to determine what is the best retirement annuity for you.

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How can we 10X Your Future?

Begin your journey to a secure future with 10X Investments. Explore our range of retirement products designed to help you grow your wealth and achieve financial success.