Everything handled, under one roof
Accessing your SA retirement annuity from the UK is not one job - it is five. A tax practitioner handles the SARS side. A broker deals with the insurer. A bank account has to be opened in South Africa. A forex provider converts and transfers the funds. Most clients try to coordinate all of it themselves and get stuck. WBForex runs the whole chain as one joined-up service.
Already started the process?
Not every client needs the full service. Some have already completed tax emigration and just need help with the insurer conversation, the AIT application, or the forex transfer at the end. Others already have a non-resident account and only need us for the conversion and UK transfer. Tell us where you are in the process and we will pick it up from there.
Tell us where you areRA access questions answered
What is the 3-year rule for RA access?
Under the 3-year rule, South African expats who have completed tax emigration (or who formally emigrated under the old SARB process before March 2021) can access their retirement annuity funds before age 55, provided they have been non-resident for at least three consecutive years. Tax emigration is the current SARS-based route for anyone starting the process today.
Do I need to have done tax emigration to access my RA?
In most cases, yes. Without formal tax emigration with SARS, you generally cannot access your RA before age 55. The exception is people who completed the old SARB financial emigration process before March 2021 - they already qualify for early access once they have been non-resident for three consecutive years. WBForex manages the tax emigration process end-to-end as part of the RA access service, so you do not need to handle it separately.
How much tax will I pay on my RA encashment?
RA encashments before retirement age are taxed under the SA withdrawal lump sum tax table. The first R27,500 is tax-free, then 18% on the portion between R27,501 and R726,000, 27% between R726,001 and R1,089,000, and 36% above R1,089,000. Two important things most people do not realise: first, the R27,500 tax-free threshold is LIFETIME cumulative, not per withdrawal - any previous lump sum withdrawals you have taken since March 2009 count toward the total. Second, the much larger R550,000 tax-free threshold you may have read about only applies at normal retirement age (55+), not to early access under the 3-year rule. We provide a full tax estimate before you proceed, factoring in any previous withdrawals, so there are no surprises.
How long does the process take?
The full process typically takes 3 to 6 months from start to finish, depending on SARS processing times, your insurer or RA fund's requirements, and the complexity of your tax affairs. We manage every stage and keep you updated throughout.
Can I access my pension fund as well as my RA?
It depends on the type of pension fund. Some pension preservation funds allow early encashment for non-residents; some occupational pension funds do not. Provident funds and provident preservation funds generally do. Contact us with your specific fund details and we will confirm what is possible.
Can I do parts of this myself and only use WBForex for the forex transfer?
Yes. Not every client needs the full service. Some already have an accountant handling their tax position and only need us for the AIT application, the non-resident Capitec account, or the final forex transfer. Tell us what you need and we will handle that part while you handle the rest.