Retirement Lump Sum Tax Calculator
Retirement Lump Sum Tax Calculator
Estimate the tax on a retirement fund lump sum, based on the type of benefit and your previous withdrawals.
How it works: SARS uses two tables: one for lump sums taken at retirement, death or retrenchment, and a stricter one for withdrawals when you resign. All lump sums you have received since 1 October 2007 are added together to find your rate, so earlier withdrawals increase the tax on this one.
Frequently asked questions
Is the R550 000 tax-free amount per withdrawal?
No. It is a lifetime amount shared across all retirement and severance lump sums.
Can I take everything in cash?
Only up to one-third, unless your retirement interest is R360 000 or less.