Vickie Lange, Head of Solutions Enhancement at Alexforbes Corporate

Alexforbes has processed and paid more than one million savings pot withdrawal claims since the introduction of South Africa’s two‑pot retirement system on 1 September 2024.

The milestone highlights the significant financial impact of the two‑pot system on South African households and the operational scale needed to support sustained access to savings by retirement fund members.

Key cumulative facts since start

• More than one million savings pot withdrawal claims processed and paid
• Average amount claimed: over R14,000 per withdrawal
• Average payment turnaround time: five business days
• More than R3.6 billion paid to the South African Revenue Service on behalf of members

Continued high volumes in the current tax year

From the start of the new tax year to 27 March 2026, Alexforbes received more than 210,000 savings pot claims, matching volumes seen in September 2024 when the two‑pot regime was first implemented.

This sustained demand has continued despite:

• The immediate tax implications associated with withdrawals
• The long‑term impact on retirement savings and future investment growth

Strong patterns of repeat usage

Claims data shows that many members are making repeated use of the savings pot feature across successive tax years:

• 67% of members who claimed in the 2025 tax year submitted another claim in 2026
• 38% of members who claimed in the 2026 tax year have already submitted an additional claim in the first month of the 2027 tax year
• 31% of members who claimed in the 2025 tax year have made withdrawals in all three tax years to date

These trends point to strong awareness of the two‑pot system and a clear appetite among retirement fund members to access cash on a recurring basis.

Balancing accessibility and long‑term preservation

“The two‑pot system represents one of the most significant shifts in South Africa’s retirement landscape in decades,” said Vickie Lange, Head of Solutions Enhancement at Alexforbes Corporate. “From day one, our priority has been to ensure that vested, savings and retirement pots operate reliably for members, both at scale today and sustainably into the future.”

Lange noted that while the two‑pot system introduced considerable administrative complexity, Alexforbes has maintained service levels across its business lines despite the sharp increase in savings pot claims.

Although the focus is on savings pot behaviour, retirement pots are silently growing:

• Members are required to preserve their retirement pots for the long term
• This contrasts with the pre two‑pot era, where many members withdrew their full retirement savings when changing jobs

“Over time, this is expected to lead to improved retirement outcomes,” Lange said. “The combination of limited accessibility through the savings pot and compulsory long‑term accumulation through the retirement pot strikes an important balance for South Africa’s retirement fund members.”

ENDS