The YX Employee Benefit Fund provides several benefits you or your dependants can claim. The process depends on the type of benefit. Here’s a simple breakdown of how to claim.
Unclaimed Benefits
- These benefits never expire.
- How to claim:
- Use the FSCA Unclaimed Benefits Search Tool with your SA ID number.
- Call YX Employee Benefit Fund on 080 555 5555 or email info@yxfund.co.za for assistance.
Withdrawals from the Savings Pot (Two-Pot System)
- Effective from 1 September 2024.
- Eligibility: Applies to all members (unless you were 55+ on 1 March 2021 and chose not to opt in).
- What you can access:
- Seed capital: 10% of your savings up to 31 August 2024 (max R30,000).
- After that, one withdrawal per tax year (minimum R2,000).
- How to claim:
- Apply via the Sanlam online platform from 1 September 2024.
- Register for online access at www.yxfund.co.za to manage withdrawals.
- Remember: tax and admin costs apply, and payments take time to process.
- ⚠️ The Fund advises only using this money for emergencies.
Death and Disability Benefits
- Provides financial support if you pass away or become permanently disabled before retirement.
- How to claim:
- Contact the Fund directly.
- You can also access counselling and wellness support via Emo (0800 555 555).
- Update beneficiaries on the Fund’s website, offices, or the MyPortfolio app.
Funeral Cover
- All members and qualifying family members are covered.
- How to claim:
- For assistance, contact providers like Jupiter Funerals (087 555 5555) or Product Supplier (0861 555 555).
- Extended family cover is also available.
Retirement Benefits
- Normal retirement age: 65 (early retirement from 55).
- Your benefits at retirement: Your fund credit, with options to:
- Take a cash lump sum (within legal limits).
- Use the balance to buy an annuity (monthly pension).
- How to claim: Contact the Fund Adviser on (012) 555 5555 or Fund Manager on (012) 555 5555 for guidance.
- ⚠️ Fund staff cannot provide regulated financial advice. Always consult a qualified financial adviser.
Retrenchment Benefits
- If retrenched or made redundant, you can claim your fund credit plus an additional amount.
Pension-Backed Housing Loans
- Lets you use your fund credit as security for property purchases, renovations, or bond settlements.
- How to apply: Contact ABC Bank Pension Backed Lending at 086 555 5555 or support@abcbank.co.za (employer agreement required).
Need Help?
For general queries or complaints, you can:
- Call toll-free: 080 555 5555
- Email: info@xyzfund.co.za
- WhatsApp: 066 555 5555
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