Retirement Savings Calculator
Retirement Savings Tax Deduction Calculator
See what SARS lets you deduct for retirement fund contributions, and how much tax it saves you.
How it works: Contributions to pension, provident and retirement annuity funds are deductible up to 27.5% of the greater of your remuneration or taxable income, capped at R430 000 a year. Anything above the limit carries forward to next year.
Frequently asked questions
Does my employer's contribution count?
Yes. Employer contributions are a taxable fringe benefit and then count towards your deduction.
What happens to contributions above the limit?
They carry forward and can reduce tax on your retirement lump sum or annuity.