Useful next calculations
Rates and sources, from 1 Sep 2024
Two-pot split from 1 September 2024: one-third savings component, two-thirds retirement component. Withdrawals from savings are taxed at the rate you enter.
| Band or figure | Rate |
|---|---|
| Savings allocation | 1/3 |
| Retirement allocation | 2/3 |
| Withdrawal tax | marginal rate entered |
Source: SARS — two-pot retirement system. Source checked for from 1 Sep 2024.
When to use this calculator
- Before choosing between saving, investing or changing a contribution.
- When you want to compare cautious, base and optimistic return assumptions.
- When you need a projection before making a longer-term decision.
- When you want to see whether starting earlier or contributing more changes the outcome more.
A worked example
These are the example figures the calculator opens with.
| Input | Value |
|---|---|
| Contribution this period (R) | 30 000 |
| Savings-component withdrawal (R) | 0 |
| Marginal tax rate on withdrawal (%) | 31% |
For those figures the calculator returns:
- Savings pot: R10 000,00
- Retirement pot: R20 000,00
- Net withdrawal: R0.00
- Tax: R0.00
How to read your results
Tax
Review this figure alongside gross income and the local tax rules that apply to you. It is a planning estimate, not a filing result.
Common mistakes
- Using an assumption that is not supported by a current local quote, bill, statement or official source.
- Treating a generic estimate as a lender, provider, payroll or tax authority decision.
- Mixing monthly and annual inputs without converting them consistently.
- Testing only one scenario instead of checking how a cautious assumption changes the result.
What to do next
- Run a second scenario with a cautious assumption so you can see the downside clearly.
- Compare the result with the related calculators below before making a decision.
- Check current local rules, eligibility and provider terms before applying or committing money.
- Keep a record of the assumptions so you can update the estimate when a quote, bill or pay figure changes.
Questions people ask
One-third goes to the savings component and two-thirds to the retirement component. This calculator applies that split to the contribution you enter.