How to Apply for a Two-Pot Withdrawal (Step-by-Step, 2026)

Last verified 2026-05-14

Before you start

Withdrawing from your two-pot savings pot is a four-step process. You apply to your retirement fund, your fund requests a tax directive from SARS, SARS calculates the tax (and deducts any old debts you owe), then the net amount is paid to you. Allow 7-21 working days end-to-end - longer if SARS is busy or your tax affairs aren't in order.

From SARS guidance updated 2026: "SARS has been processing a significantly higher volume of requests, so applying well in advance of when you need the payment is strongly advised."

Step 1: Make sure you're registered for income tax

You MUST be registered for income tax to withdraw. If you aren't, SARS won't issue the tax directive and your fund can't pay you. Register at https://www.sarsefiling.co.za or via the SARS MobiApp. Allow 24-48 hours for the registration to reflect.

Check your status via the SARS Online Query System (SOQS), MobiApp or eFiling.

Step 2: Check your eFiling for old debts

Before applying for a withdrawal, log in to eFiling and check your "Statement of Account". If you owe SARS - old tax returns, late filing penalties, unpaid admin fees - SARS will deduct that directly from your two-pot withdrawal before you receive a cent. In 2026 the SARS debt-management system is fully integrated with the retirement funds' tax directive process.

If you have an old tax debt you forgot about, pay it or arrange a deferment BEFORE you apply for the withdrawal. Otherwise you may receive much less than the calculator suggests.

Step 3: Apply through your retirement fund

Open your retirement fund's app or portal. The major SA providers all support online application:

Allan Gray, Sanlam, Old Mutual, Discovery, Liberty, Momentum, Coronation - all have online forms
Government employee funds: GEPF, EPPF, Telkom Retirement Fund - mostly via member portal
Smaller employer schemes - usually via your HR or fund administrator

Have ready: your ID number, latest payslip, banking details, and your eFiling login (you may be asked to consent to SARS data lookup).

Minimum withdrawal is R2,000. Maximum is your full savings-pot balance.

Step 4: SARS tax directive + payment

Your fund electronically requests a tax directive from SARS. SARS calculates the tax based on your marginal rate (18-45%) PLUS any old SARS debt. The directive arrives back at the fund usually within 24-48 hours, sometimes longer in peak periods.

The fund then pays the NET amount (savings-pot amount minus tax minus old SARS debt) to your registered bank account. Allow 3-7 working days for the deposit to land after the directive is approved.

Realistic timing

Tax registration (if needed): 24-48 hours
Fund processes application: 2-5 working days
SARS issues directive: 1-7 working days
Fund pays out: 3-7 working days
End-to-end: 7-21 working days in normal periods, longer Aug-Dec (peak)

Frequently asked questions

How much can I withdraw from my two-pot?

Up to the full balance of your savings pot, minimum R2,000 per withdrawal. You can withdraw once per tax year (1 March to 28/29 February).

How much tax will SARS deduct?

SARS taxes the savings-pot withdrawal at your MARGINAL rate (18-45%). If you earn over R237,100/yr your marginal rate is 26%+. Use our two-pot calculator for an estimate.

Can I withdraw from my retirement pot too?

No. The retirement pot (two-thirds of contributions plus growth) is preserved until you retire. Only the savings pot is accessible.

What if I have multiple retirement funds?

You can apply for a savings-pot withdrawal from each fund separately, but only once per tax year per fund.

General guidance, not financial advice. Sourced from SARS, National Treasury two-pot FAQ Aug 2024 updates, and major SA retirement fund administrators. Last verified 2026-05-14. For your specific situation, talk to your retirement fund or an independent financial planner.