Two-pot calculator

What does a savings-pot withdrawal really cost?

See the tax on a two-pot withdrawal, what you receive and what it costs your retirement in today's money.

Your numbers

Balance in your savings pot

Your fund or retirement statement shows this.

Amount you want to withdraw

The minimum is R 2 000. You may withdraw once per tax year.

Your taxable income for the year

Yearly pay before tax, before this withdrawal. A monthly gross pay of R30,000 is R360,000 a year.

Your age35

People over 65 get a bigger tax rebate.

Years until you retire25

Growth on retirement savings (per year)8%

An assumption, not a promise.

Assumed inflation (per year)5%

What this withdrawal costs

You ask for

R 20 000

Tax on it

R 5 200

26.0% of the withdrawal

You receive

R 14 800

Tax on your year before the withdrawal	R 0
Extra tax because of the withdrawal	R 5 200
What it could have grown to by retirement	R 136 970
The same amount in today's money	R 40 447

Every rand you take out of the savings pot stops growing for your retirement. Think carefully before using it, and look at whether another option fits better first. The retirement pot stays locked until you retire.

Since 1 September 2024 one third of contributions goes to the savings pot. A withdrawal is added to your income for the year and taxed at your own rate, using the 2026/27 SARS tables (in force from 1 March 2026). Your fund asks SARS for a tax directive, so the tax it takes off may differ from this estimate. Funds may also charge an admin fee. This tool is an illustration, not tax advice.

Financial education, not financial advice. Money-Sense does not recommend any product and nothing here is personalised advice. Results depend on the figures you enter and on assumptions that can change. Speak to an authorised financial services provider before you make a financial decision.