The two-pot retirement system, explained simply
What changed in September 2024, what you can withdraw, and why you should think twice before you do.
Qina Advisory team
July 2026
Since 1 September 2024, new contributions to South African retirement funds are split into two parts, or “pots”. The goal is to give members limited access to savings in an emergency while protecting most of the money for retirement.
The savings pot
One-third of new contributions goes into the savings pot. You can make one withdrawal per tax year, subject to a minimum amount. Withdrawals are taxed at your marginal income tax rate.
The retirement pot
Two-thirds goes into the retirement pot, which stays invested until you retire and must be used to provide a retirement income.
The vested pot
Savings built up before September 2024 sit in a vested component and follow the old rules.
Should you withdraw?
Every rand you withdraw loses decades of compound growth and is taxed. Treat the savings pot as a last resort, not a bonus. Speak to an adviser before making a withdrawal.
Want advice for your situation? A Qina adviser can walk you through your options, free of charge.
This article is general information and not financial advice. Product features, limits and legislation may change.