Old Mutual Two Pot Withdrawal Requirements

Old Mutual members can apply for a two-pot withdrawal provided they meet specific requirements:

A minimum of R2,000 must be available in your Savings Pot to make a withdrawal; if you have less than R2,000, you cannot withdraw^[3].
You may withdraw from the Savings Pot only once per tax year (between 1 March and the end of February each year)^[3].
There is no maximum withdrawal amount, but you are limited to the available balance in your Savings Pot^[5].
Withdrawals are taxed at your individual marginal tax rate, as decided by SARS, and an administration fee will be deducted from the withdrawal amount^[3].
To apply, you must provide up-to-date personal information, including a valid South African ID number, bank account details, tax number, and annual income^[4].
Only one withdrawal application is allowed per tax year. Any pending or incomplete requests will delay further access^[3].
No withdrawal is permitted if there are pending SARS IT88 orders, maintenance orders, or if fund details do not match Old Mutual’s records^[5].
Applications can be made via the Old Mutual WhatsApp Channel, Old Mutual App, or Old Mutual website. Access the WhatsApp channel by calling 0860 933 333 and following menu instructions^[2].
No deadline exists for making a withdrawal, but you are encouraged to preserve these funds for retirement or emergencies^[2].
Withdrawal processing times may be up to 30 days, depending on application volumes and SARS turnaround times^[2].

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