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Taxation Retirement 
  
This amount applies to the aggregate of all retirement lump sums received over the retiree’s lifetime.  This means that you cannot get R500 000 from a Retirement Annuity and R500 000 from this Fund.  Your retirement benefits will be added together and the first R500 000 will then be tax free.  The balance will be taxed according to the scale above.

Any withdrawal benefit previously received tax free, as well as tax free portions for amounts paid out in respect of divorces or maintenance orders, after 1 March 2009, will also be deducted off the tax free amount.
 
 
Please note that:
  • Any transfer value from the AIPF will be tax free
  • Where the Employer does not contribute to the Fund in respect of a member on leave without pay/without rights, the contribution paid by the member will be tax free.

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