The Sanlam Umbrella Fund has reduced the administration fee applied to Emergency Savings Pot withdrawal claims from R330 (plus VAT) to R300 (plus VAT). This change is part of the Fund’s ongoing commitment to improving member value while maintaining efficient and transparent administration processes.
The administration fee is charged to cover the operational costs associated with processing withdrawal claims. As with the previous structure, the fee is deducted from the amount a member elects to withdraw, together with any applicable tax or outstanding amounts owed to the South African Revenue Service (SARS).
Members are encouraged to consider all associated costs when submitting a withdrawal claim and to use the Emergency Savings Pot prudently as part of their broader financial planning strategy.