A simpler way to withdraw and transfer your South African retirement funds overseas

It depends on your fund type, tax residency status and the specific fund rules. Full access to a retirement annuity or preservation fund's vested benefits generally requires that you've been a non-resident for South African tax purposes for three consecutive years, while the "savings pot" introduced under the two-pot retirement system can typically be withdrawn once a year regardless of residency status.

Future Forex can guide you through the process and help transfer your proceeds securely to your overseas bank account once they're eligible for withdrawal.

We assist with a wide range of retirement-related transfers, including retirement annuity proceeds, pension and provident fund payouts, preservation fund withdrawals, retirement lump sums, and large-value retirement transfers - for South African expats, non-residents, and clients still finalising their move abroad. Whatever stage you're at, our specialists can help transfer your eligible proceeds securely and efficiently.

Yes, in most cases. Pension fund payouts are typically governed by your fund's own rules and become accessible once you've formally retired, resigned or been retrenched, rather than being tied to the three-year non-residency test that applies to retirement annuities. Future Forex can assist with your pension withdrawal application as well as transferring the proceeds securely to your overseas bank account once they're available.

This depends on your fund type, residency status, the source of funds and the circumstances of your transfer. Your dedicated Account Manager will confirm exactly what's required and guide you through gathering it - including any AIT or SARS documentation - so nothing holds up your transfer.

Retirement fund withdrawals and lump-sum payments can carry South African tax implications, so we recommend getting advice specific to your circumstances.

Our specialists provide complimentary assistance with your SARS Approval International Transfer (AIT) application as part of your transfer, and can also assist with your tax emigration status and RA withdrawal application as separate services, so you have expert support throughout the process.

Timing depends on your fund's withdrawal process, tax and AIT approval, and your bank's requirements. SARS typically aims to process AIT applications within a few weeks, though this can vary. Once your proceeds are available and all requirements are met, your Account Manager will coordinate the transfer and keep you informed throughout.

At Future Forex, our team of tax and foreign exchange experts provide competitive exchange rates, dedicated support, transparent pricing, secure international transfers and complimentary AIT assistance.

We also offer additional support with tax emigration and RA withdrawal applications where needed - guiding you from your initial enquiry through to final settlement.