WITHDRAWALS FROM
YOUR SAVINGS POT
WILL IMPACT YOUR
RETIREMENT
GOALS
1
The most important goal of saving for retirement is to make sure that you have enough money when you retire. If you start withdrawing the money now, you could end up running out of money as you grow older.
2
Keep in mind that EVERY withdrawal you make will not only reduce your savings balance, it will also shrink your savings’ growth potential.
3
You will not only “lose” money by having to pay taxes, you will also miss out on earning compounding interest. Compound interest is the interest on interest you earn when you save. It’s what helps savings to keep growing and growing over time.
4
While the Savings Pot offers access to a portion of your savings, its main purpose is to help you save towards your retirement.
Please note the legislation will come into effect on 1 September 2024. We will keep you updated once our systems are ready to process your withdrawal submissions.
WHATSAPP "Hi" TO
0860 933 333
TO USE THE TWO-POT
CALCULATOR.
Help us serve
you better.
Regularly check and update your
contact details to stay connected
on our digital platforms.
Read more about the
Two-Pot Retirement System.
Please note the legislation will come into effect on 1 September 2024. We will keep you updated once our systems are ready to process your withdrawal submissions.
As a responsible custodian of the funds we manage on behalf of South Africans, our primary goal is to emphasize the importance of saving for retirement.
Old Mutual Life Assurance Company (SA) Limited is a licensed FSP and Life Insurer.
