Dear MCPF Members
The Two Pot system implementation is upon us. We have attached the Two pot saving claim form to be completed by members and Opt In form to be completed by members over age of 55 years who wants to participate on the Two Pot withdrawal.
Following documents must be attached for the application to be processed without delays.
- Complete two pot system form and Opt in form
- Clear, certified copy of your identity document/s, and/or both sides of your identity card
- Bank confirmation letter (or current bank statement) not older than three months
- Divorce and/or Maintenance Court Orders and Annexures (if applicable)
- Tax confirmation letter
Process and timeframe to be followed before two pot withdrawal can be processed
- Contributions for August must be paid By the 7Th September.
- Schedules for August to be submitted by the 15th of September.
- Contribution update to be updated by the 20th of September.
- Investment return to be loaded by 25th September.
- Only after the investment return is loaded the withdrawal process can start.
- Tax is submitted daily, and tax responses is uploaded daily.
- Once your retirement fund sends your withdrawal directive application to SARS, your decision to withdraw becomes final. Meaning, even if you owe SARS you cannot cancel the withdrawal application. Rather make payment arrangement with SARS upfront in case you owe them (please refer to https://www.sars.gov.za/two-pot-retirement-fund-system/)
Members can also check their tax numbers or if they owe SARS and the balance thereof by dialling *134*7277# and follow the prompts.
