Pension preservation fund

[shadow_man]

Hi,

I've read that you get 1x withdrawal from your preservation fund BEFORE retirement age and in doing so you'll be taxed accordingly, with the first R25 000 being tax free.

However - if I've got say 3x funds (one fund for each past employer) am I able to make 1x withdrawal PER account (for a total of 3 withdrawals) or only 1x withdrawal in total?

I can't seem to find a definite answer - any advice?

Thanks!

 

[supersunbird]

Can withdraw per fund, R25 000 tax free amount is once off.

 

[shadow_man]

Can withdraw per fund, R25 000 tax free amount is once off.

Thanks - I was hoping you'd show up.

Do you have first hand experience of this or a reliable source? I can't seem to find anything that confirms this is the case.

 

[supersunbird]

Thanks - I was hoping you'd show up.

Do you have first hand experience of this or a reliable source? I can't seem to find anything that confirms this is the case.

Can't find anything online. It's not an issue, so not really questions about it.

You'd find lots of questions about accessing a preservation fund a second time because people cannot (so it's an issue) and want to find out if there is a way.

 

[R13...]

Thanks - I was hoping you'd show up.

Do you have first hand experience of this or a reliable source? I can't seem to find anything that confirms this is the case.

He's right the tax is once off across all pensions or preservations. That's what those tax directives do, they also keep track of your withdrawals and what taxes your liable for at each withdrawal

 

[shadow_man]

He's right the tax is once off across all pensions or preservations. That's what those tax directives do, they also keep track of your withdrawals and what taxes your liable for at each withdrawal

Yeah I get the tax table bit and that it accrues to the new level each time you withdraw - I was just struggling to find info on withdrawing from MORE than one preservation fund.