When can I claim from my Employee Benefit Fund?

The timing of when you can claim depends on the type of benefit. Here’s a breakdown of the main benefits and when they become available.

Unclaimed Benefits

• These benefits never expire.
• If you were a member, dependant, or beneficiary who didn’t receive a payout, you can claim at any time.

Withdrawals from the Savings Pot (Two-Pot System)

• Effective from 1 September 2024.
• Seed capital: You can withdraw 10% of your accumulated savings up to 31 August 2024 (capped at R30,000).
• After that: You can make one withdrawal per tax year from your Savings Pot. The minimum amount is R2,000.
• Important to know: Payments aren’t instant — the Fund must verify details and deduct tax and admin costs first. It’s best to use these withdrawals only for emergencies.

Retirement Benefits

• Normal retirement age: 65.
• Early retirement: Allowed from age 55.
• Deferred retirement: You can keep contributing past 65 if your employer allows.

Death and Disability Benefits

• Payable if you die or become permanently disabled before retirement age.
• Funeral cover continues until the age you would have reached normal retirement.

Retrenchment Benefits

• If you’re retrenched and don’t qualify for a retirement benefit, your fund credit plus an additional amount is payable.

Pension-Backed Housing Loans

• Available during active service, based on your fund credit.
• Can be used for buying property, renovations, or settling a bond.
• Subject to employer approval.

Need Help?

For queries or to start a claim, you can:

• Call toll-free: 080 555 5555
• Email: info@xyz.co.za
• WhatsApp: 083 555 5555