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Frequently Asked Questions
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Frequently Asked Questions
- Your Sanlam Benefit Statement Explained
- How to nominate or update beneficiaries on the Sanlam Member Portal
- What benefits are paid from my retirement fund in the event of my death?
- After divorce, can my ex-spouse claim a portion of my pension interest?
- How have my retirement savings been affected by the Covid-19 pandemic?
- What happens to my Sanlam group insurance cover if my employer had to suspend business operations due to the impact of COVID-19?
- Why is it important that I nominate the beneficiaries for the benefits from my retirement fund?
- What tax is payable on my withdrawal benefit when I change jobs?
- Why is it important to have a will in place before I die?
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Frequently Asked Questions
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Retirement
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Retirement Fund membership explained
- Must I belong to my employer’s retirement fund?
- How does the tax deductibility on retirement fund contributions work for me?
- When and how can I get access to my benefits in my retirement fund?
- How do I lodge a complaint against my retirement fund?
- I’ve just joined a retirement fund – what are all the things I need to do? What choices do I have?
- Why is it important that I complete a beneficiary nomination form?
- What is Sanlam’s policy regarding contacting me via my personal contact details?
- How will I be affected if my employer decides to participate in another retirement fund?
- How will retirement reforms (T-Day) affect your retirement fund savings?
- How will the retirement reforms affect you?
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Imali Zam (My Money)
- Nominate and update your beneficiaries
- Understanding your benefit statement
- How the Sanlam Member Portal and My Retirement App work
- What happens to my retirement fund savings when I change jobs?
- How to make the most of your retirement savings
- What happens to my retirement benefit savings when I die?
- Will there be tax implications for the Two-Pot system?
- Discover how the Sanlam Member Portal can help you manage your benefits
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Retiring
- Saving for retirement
- How is my retirement benefit calculated?
- What is your replacement ratio (RR)?
- What options do I have regarding the payment of my retirement benefit?
- Why should I consider leaving my retirement benefit in the fund?
- My fund offers a living or life annuity - how does this work?
- What deductions will be made from my retirement benefit?
- What tax is payable on my retirement benefit?
- How much money do I need to have saved by the time I retire?
- What are the basics I should know about annuities?
- Is there legislation that will influence the payment of my retirement benefit?
- How will taking cash from my retirement savings impact on my future?
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Retirement Fund membership explained
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Changing Jobs
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Changing Jobs
- What happens if I leave my money in my current retirement fund when I change jobs?
- What happens if I re-invest my money in a preservation fund when I change jobs?
- What happens if I re-invest my money in a retirement fund with my new employer?
- What happens if I re-invest my money in a retirement annuity when I change jobs?
- Is there legislation that may impact my withdrawal benefit when I change jobs?
- How do I claim my withdrawal benefit when I change jobs?
- How long will it take for my withdrawal benefit to be paid / processed when I change jobs?
- What if payment of my withdrawal benefit is delayed?
- What if my employer fails or refuses to process my withdrawal documentation?
- What deductions will be made from my withdrawal benefit when I change jobs?
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Changing Jobs
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Life Events
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Divorce
- How will a divorce affect my assets in my retirement fund?
- What is pension interest?
- Why must the divorce order specifically refer to "pension interest"?
- What is an example of wording that complies with the requirements?
- What requirements have to be met before payment can be made to my ex-spouse from my retirement fund?
- How much of my pension interest can be awarded to my ex-spouse?
- How will my ex-spouse know what the value of my pension interest is?
- What happens if my employment is terminated before the divorce order is granted?
- What is an order in terms of section 7(8) of the Divorce Act?
- Is an order in terms of section 7(8) of the Divorce Act always possible?
- Possible reasons why a retirement fund may not be able to make payment to my ex-spouse
- What documentation should be submitted by my ex-spouse when claiming payment from my retirement fund?
- For how long must I be married before my ex-spouse can claim from my retirement fund?
- What if my ex-spouse refuses to disclose his/her pension fund or doesn't cooperate?
- If I have my own retirement fund, can I claim from my ex-spouse’s retirement fund?
- How does the amount awarded to my ex-spouse affect the remainder of my retirement fund?
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Divorce
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Death
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Death
- What is my retirement fund member share made up of?
- What is the difference between approved and unapproved benefits in my retirement fund?
- How is the approved death benefit from my retirement fund paid?
- How is the unapproved death benefit from my retirement fund paid?
- What deductions will be made from the death benefit from my retirement fund?
- What tax is payable on the approved death benefit from my retirement fund?
- What estate duty is payable on the benefits from my retirement fund?
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Death
- Prosper Member Newsletter
What is an order in terms of section 7(8) of the Divorce Act?
Section 7(8) of the Divorce Act allows the court granting a divorce order to make an order which:
- Awards a specified portion of your pension interest in a retirement fund to your ex-spouse; and
- Orders the relevant fund to make payment of it to your ex-spouse.
Related Articles
- How will a divorce affect my assets in my retirement fund?
- What is pension interest?
- Why must the divorce order specifically refer to "pension interest"?
- What is an example of wording that complies with the requirements?
- What requirements have to be met before payment can be made to my ex-spouse from my retirement fund?
- How much of my pension interest can be awarded to my ex-spouse?
- How will my ex-spouse know what the value of my pension interest is?
- What happens if my employment is terminated before the divorce order is granted?
- Is an order in terms of section 7(8) of the Divorce Act always possible?
- Possible reasons why a retirement fund may not be able to make payment to my ex-spouse
- What documentation should be submitted by my ex-spouse when claiming payment from my retirement fund?
- For how long must I be married before my ex-spouse can claim from my retirement fund?
- What if my ex-spouse refuses to disclose his/her pension fund or doesn't cooperate?
- If I have my own retirement fund, can I claim from my ex-spouse’s retirement fund?
- How does the amount awarded to my ex-spouse affect the remainder of my retirement fund?