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Congratulations on your retirement. We believe that that your retirement ought to be loved and that you shouldn't worry about tax. For that reason, here are some tips on the tax in regard of retirement.
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Begin to see the Retirement Lump Sum benefits webpage with info on the taxation of lump sum Positive aspects and severance Advantages.
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When you retire being a member of the pension fund, pension preservation fund or retirement annuity fund and you would like to take a part of your retirement fascination for a lump sum, you will be allowed to acquire (commute) a lump sum equal to a maximum of one-third on the retirement desire in that fund.
The remaining two-thirds will probably be compensated out in the form of an annuity (an everyday pension). Nonetheless, if your overall retirement interest within the fund doesn't exceed R247 500, you might go ahead and take full retirement curiosity as being a lumpsum.
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