How do I make a Provident Fund claim after my termination of employment?
Members who leave an establishment through resignation, retrenchment, dismissal, or retirement may submit a Provident Fund claim, subject to the applicable fund rules, tax requirements, and processing periods.
Claim Options
Older than 55 on 01 March 2021
If you are retiring and were older than 55 years of age on 01 March 2021, you will be able to take 100% of your fund credit as cash.
Younger than 55 on 01 March 2021
If you are retiring and were younger than 55 years of age on 01 March 2021, you will be able to claim 1/3 of your benefit from the Vested Component and Savings Component. The remaining 2/3 of your benefit from the Retirement Component will need to purchase a retirement annuity, subject to tax. An annuity is a monthly income stream, and you will require a financial advisor to assist you in this regard.
Resignation, Retrenchment, or Dismissal
If you have resigned, been retrenched, or been dismissed, your claim will be subject to tax. You will be able to be paid your Vested Component and Savings Component. Your Retirement Component can be transferred to a Preservation Fund tax free.
Claim Requirements
-
Obtain the Claim Form
You can obtain the claim form from the link provided on this page, or by visiting one of our offices in Johannesburg, Free State, or Pretoria.
-
Prepare the Supporting Documents
The claim form must be submitted together with the required supporting documents.
- Confirmation of tax letter
- Proof of bank account letter
- Certified copy of your South African ID
- Certified copy of your passport, if you are a foreign national
- Termination letter from your employer stating the reason for termination
-
Submit the Claim
Once the completed claim form and all required supporting documents have been submitted, the claim will be reviewed and processed according to the applicable claim type.