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Double tax warning for anyone with a retirement fund in South Africa | SA News

Malcolm Libera
 ·13 Mar 2026

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More than 100,000 South Africans have already accessed their savings pots for the 2026/27 tax year, with the first withdrawal submitted one minute into the new financial year.

However, South Africans are reminded of the high cost and additional tax risk associated with withdrawing these funds. 

According to Vickie Lange, Head of Solutions Enhancement at Alexforbes, the firm recorded a sharp increase in members accessing their savings pot during the first week of the…

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