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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 estate duty is payable on the benefits from my retirement fund?
All retirement fund benefits (approved and unapproved) payable on your death, is exempt from estate duty.
Related Articles
- 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?