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Withdrawal Benefits 
Members may only withdraw from the retirement fund when they leave the employ of UCT. The withdrawal benefit is not affected by the reason for ending employment with UCT (such as resignation or dismissal), except that retirement tax rates apply if the member is retrenched. On withdrawal, members will receive the balance in their Retirement Savings Account.
For more information on the tax payable on withdrawal, resignation or dismissal, please see the Taxation of Benefits section.

What options do I have at withdrawal?

When you leave the Fund, you have the following options:

1. Leave your benefit in the UCT Retirement Fund (Deferred Pensioners). In this case you will only receive a benefit from the age of 55 onwards
2. Take your money in cash (but beware of the tax payable)
3. Transfer your money to a new employer's Pension and / or Provident Fund
4. Transfer your money to a Retirement Annuity Fund
5. Transfer your money to a Preservation Fund
6. Elect to take a portion of your withdrawal benefit in cash, and transfer the balance to an approved pension or provident fund, approved retirement annuity fund or an approved preservation fund.

Click here for a presentation on the process and considerations of early retirement.

Please Note:     The options may sound technical, but it’s not that complicated – click here take a look at each of these: