Can I withdraw from my investment?
Yes. You can withdraw from your investment at any time and without penalties.
Can I set up a regular withdrawal from my investment?
No. While ad hoc withdrawals are allowed, regular withdrawals defeat the savings objective of the product.
What happens to my maximum limits if I withdraw from my investment?
Withdrawals are not taken into account when determining your maximum limits. To better understand this, it’s important to have a look at how your maximum limits are calculated:
R33,000 – This is a fixed limit, so any contributions you make will be deducted from this total during the course of the tax year. Any withdrawals you make have no impact on this calculation.
R500,000 – This is a fixed limit, so your total contributions made over the course of your lifetime will be gradually deducted from this total. Any withdrawals you make have no impact on this calculation.