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 Withdrawal of paid up proceeds

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PostSubject: Withdrawal of paid up proceeds   Thu Jul 21, 2011 1:57 pm

A question from Koot

Mr x now lives in the UK. He is 39 years old
He has paid-up R\A with Sanlam worth R39000.
Can he take all the proceeds before the age of 55 being a British Citizen?


Last edited by Forum Admin on Thu Jul 21, 2011 2:01 pm; edited 1 time in total
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Posts : 94
Join date : 2011-03-30
Age : 47
Location : Johannesburg

PostSubject: Re: Withdrawal of paid up proceeds   Thu Jul 21, 2011 1:58 pm

Forum Admin wrote:
A question from Koot

Mr x now lives in the UK. He is 39 years old
He has paid-up R\A with Sanlam worth R39000.
Can he take all the proceeds before the age of 55 being a British Citizen?
Reply from Crest

Hi Koot

Withdrawal prior to age 55 is allowed where contributions are discontinued prematurely and the member emigrated from the RSA and the emigration is recognized by the SARB.
The following documents must be submitted to SARS on emigration:
- Tax clearance certificate
- Tax directive on the lump sum
- Supporting documents in the tax directive application; and
- proof of emigration

Kind regards
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