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Retirement Benefits 

Click here for the UCTRF explanatory document for prospective retirees.



When can I retire?

  • At the normal retirement age
  • Early retirement
  • Late retirement

It is important to notify the Employer 30 days before your final day of service, to avoid delays in the payment of your retirement benefit.

The Normal Retirement Date is the end of the calendar year in which you turn 65 years (at retirement you will get the balance in your Accumulated Retirement Savings Account).

In accordance with Section 37D of the Pension Funds Act certain amounts may be deducted from your Accumulated Retirement Savings before your benefit is paid.

These include:

• Tax on the benefit

• Outstanding housing loans where the member’s Accumulated Retirement Savings were used as surety

• Arrear maintenance payments awarded via a court order

• Amounts awarded to an ex-spouse via a Divorce Order which have not previously been paid to your spouse

• Losses suffered by the employer as a result of fraud and theft by the employee, and in respect of which the member admitted liability in writing, or a judgement has been obtained against him/her.


Early Retirement

With your employer’s consent, you may retire early from age 55 onwards. You will have the same options as those who retire at the normal retirement age. At the request of your employer, you may be retired from UCT and the UCTRF at any time before the normal retirement age, due to operational requirements or ill health.

Late Retirement

With consent from UCT, you may also retire later than your normal retirement age, but you will forfeit your risk cover (death and disability).  In each of these instances, you will receive the balance in your Accumulated Retirement Savings Account

My options at retirement

Your retirement is an important milestone in your life. Most people hope to be able to maintain a reasonable lifestyle in their "golden years".

At retirement from the University of Cape Town Retirement Fund you have a few options.  As this money will have to last you for the rest of your life, it is important that you don’t take decisions at retirement lightly.  It is recommended that you speak to a FAIS-accredited financial advisor of your choice to assist you with this important step.

If you are retiring soon, the UCTRF will inform you of the total amount of your retirement benefit or you can print your benefits from the Sanlam website...

Click here for the different pension options at retirement.

See the different calculators in our Toolbox in the menu above to assist you with this important step.


How do I decide on the best pension option for me?