One Year Into The Two-Pot System: How Much Have South African’s Withdrawn?
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Guest - Nzwa Shoniwa, Managing Executive: Sanlam Umbrella Solutions
From 1 September 2024 to 31 August 2025, Sanlam Corporate paid out approximately R4 billion across 223 000 emergency-pot claims with R1 billion in tax flowing to SARS. On average, we are paying out about R150 million a month, but when the new tax year opened in March withdrawals spiked to just under R400 million. Around 70% of those March withdrawals came from repeat claimants people who had already taken money before. Almost everyone takes the maximum they can – 81% draw the full allocation – with the average withdrawal sitting at R22 100. Of our total members, 27% have chosen to make withdrawals.
From 1 September 2024 to 31 August 2025, Sanlam Corporate paid out approximately R4 billion across 223 000 emergency-pot claims with R1 billion in tax flowing to SARS. On average, we are paying out about R150 million a month, but when the new tax year opened in March withdrawals spiked to just under R400 million. Around 70% of those March withdrawals came from repeat claimants people who had already taken money before. Almost everyone takes the maximum they can – 81% draw the full allocation – with the average withdrawal sitting at R22 100. Of our total members, 27% have chosen to make withdrawals.
