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Taxation Death 
 
This amount applies to the aggregate of all retirement fund lump sums received over the member’s lifetime. This means that the member’s dependents cannot get R500 000 tax free from a Retirement Annuity and R500 000 from this Fund. Both 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 by the deceased member, 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.
 
Note that you may be covered for an insured life cover benefit outside of the Fund, and this benefit may be tax-free. Refer to your Insured Benefits Guide for confirmation of this.

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.