The amount she can take … They need an statement from … I need money to survive until i get that momey. I'm resigning from the department of education. Tax payable on GEPF resignation. Death benefits are paid when a member dies while in service, or within five years of becoming a pensioner.The GEPF also pays annuities to qualifying surviving spouse(s) or orphan(s) of members who die while in service or after retiring. I received benefit calculation from GEPF = R1 285 837 what will my tax be ? This is when she must decide whether to take up to one-third as a lump sum and use the remaining two-thirds to buy a pension as she retires from the GEPF. If you belong to an industry (bargaining council fund) then there is usually a mandatory waiting period which can be up to six months long. You will not receive any contribution towards your medical aid from the state if you resign. On resignation the member loses the pro-rata bonus, the leave pay lump sum as well as any post-retirement medical aid benefits, housing subsidy, etc. Medical aid subsidy You will not receive any contribution towards your medical aid from the state if you resign. Your spouse or life partner will also not receive anything from GEPF after you pass away, whereas they would have received 50% or 75% of your monthly pension, based on your choice on retirement, for as long as they live. Therefore it is imperative to keep this in mind when a client is weighing up resignation from the fund. Medical aid subsidy. I approached Bridge Financing that lend you money while you waiting for your pension to pay out. The GEPF has changed the rules to remove the anomaly between the resignation benefit and the discharge benefit for members with less than 10 years’ service. Assuming your tax affairs are in order, a pay-out usually takes around 4-8 weeks from that point. You then receive an actuarial amount as your retirement savings that must be invested into an approved retirement fund. 2) Resigning from the GEPF: When you resign from the GEPF, you effectively lose all benefits of the fund. I Have resign from my Job, I must wait 6 to 8 weeks for my provident fund pay out. This entry was posted in Tax Q&A and tagged Salary / IRP5, Retirement. Normally on retirement the GEPF pays one-third lump sum and provides an income to the pensioner with the remaining two-thirds. receive anything from GEPF after you pass away, whereas they would have received 50% or 75% of your monthly pension, based on your choice on retirement, for as long as they live. The actuarial amount is calculated by using a formula as defined by the GEPF. Posted 6 March 2016 under Tax Q&A Gabs says: 3 March 2016 at 7:20 If I resign from GEPF what is the tax on R2100000? I started contributing in 1984 for 32 years. Bookmark the permalink. If you have thanx This entry was posted in Tax Q&A and tagged Salary / IRP5, Retirement.Bookmark the permalink. Please take the time to read through this booklet and, if you still have any questions, feel free to phone GEPF’s toll free Call Centre on 0800 117 669. Who we are The Government Employees’ Pension Fund is a defined benefit fund with over 1.2 million active members and …

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