What Happens if You Retire Early from Government Employment?

[@eugenepole7377]

Best channel for the working South African

[@SthembisoMchunu-gp9vd]

Grt video 😮

[@maleemalebese7344]

The video is insightful and informative. Please make one which addresses the aspect of leaving employment on grounds of medical unfitness,while you are a member of GEPF.

[@DhevanNaicker]

@maleemalebese, you can access the video here: GEPF Medical Board vs Resignation kzbin.info/www/bejne/i4iZYYtsZdOkeJo

[@tumimotloung752]

Hey Dhevan, I'm looking forward to:What will happen if you Resign from GEPF before the age of 60.....we are really gaining much of the information we didn't know about!

[@DhevanNaicker]

@Tumi, Perfect timing. I’m busy with the prep for this. Share with me exactly what you would like to know.

[@tumimotloung752]

@@DhevanNaicker The plan is to resign before the age of 60, I want to know if there is a penalty in any form, nor any tax implications....my interest is to transfer to the approved fund!

[@DhevanNaicker]

@Tumi, you got it. I’ll cover those aspects extensively for you. What are your plans after you move to the approved fund?

[@tumimotloung752]

@@DhevanNaicker The plan is to receive a monthly salary and to make the family business to grow

[@DhevanNaicker]

@Tumi, I’m glad you shared. The approved fund does not pay an income. Would it be helpful if I covered this in the video?

[@chwanemthethwa7066]

Thank you, this was helpful 🙏

[@basjanhough7008]

Thanks help a lot

[@DhevanNaicker]

@Basjan, view this video next: GEPF Retire or Resign | Tax Secrets - Which one is better kzbin.info/www/bejne/kJnQYYuLhsaAm80

[@kelebogileditibane61]

How is the two pot system affect me at 57yrs when I resign after 1st September

[@DhevanNaicker]

@kelebo, How the Two Pot System Impacts Every Single GEPF Member kzbin.info/www/bejne/aYC4gKWohL2Zgc0

[@JoleneJohn-pz4du]

I got severely and multiple injuries in an accident on duty. How does bn board off sick works

[@DhevanNaicker]

@Jolene. Starting point is to reach out to HR who will advise you on the process. This can take a while before they reach an outcome

[@mpumesatshwa3375]

I need info on how can I have medical aid if I resign from GEPF?

[@DhevanNaicker]

@mpume this is covered during private consults. However you can access a special video series here: kzbin.info/aero/PL2or1itYcbBgmxQ1IVtbfwCZPZmBUGVLM&si=zgDufE2WOFx5fB1D

[@bhekumusabongathamsanqamkh5742]

May I request you that you work out the aspect of leaving a legacy for kids and wife, and make a presentation.

[@DhevanNaicker]

@bhekumusa, this is most effective during a private consult as I would need to review your specific situation, current assets, debts, investments, policies, tax planning, etc in order to engineer a plan that is best suited for your family. Remember your family is unique and therefore the planning should cater for their specific situation and your goals and intentions

[@WrestlingInYourHouse]

Is it possible to calculate an estimate on how much the tax man stands to gain from these payouts ?

[@DhevanNaicker]

@wrestling, this video has exactly what you are looking for: GEPF Tax Insights 2023: Optimizing Your Lump Sum On Retirement or Resignation kzbin.info/www/bejne/qYGlZn99e896hdE

[@WrestlingInYourHouse]

@@DhevanNaicker Thank you Sir

[@estelleherbert5504]

If I resign end 2024 how Wil the 2 pod system affect my resignation value

[@DhevanNaicker]

@estelleherbert, this is a crucial decision because you could lose a significant amount of money post two pot if GEPF changed their formula. You will find more clarity here How the Two Pot System Impacts Every Single GEPF Member kzbin.info/www/bejne/aYC4gKWohL2Zgc0

[@dominicbiggers4645]

Hi can you send info on what happens if you are medically boarded before the 2 pot system is implemented and say you have already turned 55 by the year 2021 do you have the option to not go on the new system and must you inform your retirement fund and will I receive my 1/3 cash payment at normal retirement. Please share your comment thanks.

[@DhevanNaicker]

@dominic, this is too detailed and complex to cover over messaging. You will need to book a one on one so that I can review your entire circumstances and advise you accordingly. You can do that here: www.retirevsresign.co.za/consult/

[@LizzyMawonga]

If I took early retirement what will happen plz can I have calculation on Dat please m 52 yrs now

[@DhevanNaicker]

@Lizzy, you will need to get accurate figures from the pension fund first and then consult with a professional financial planner.

[@mpumesatshwa3375]

What is meant by capped leave, capped leave tax?

[@DhevanNaicker]

@mpume, are you a GEPF member?

[@mpumesatshwa3375]

@@DhevanNaicker Yes I GEPF member

[@DhevanNaicker]

@mpumesatshwa3375 Easiest way to understand Capped leave is to think of it like unused leave. Usually you need to exhaust annual first before you make use of capped leave. Enquire with your HR if you have this and then enquire how you can use it.

[@neerabhagwandass6059]

1:02 1:03 ​@@DhevanNaicker

[@AvrilSims-sl8yo]

Good day can you please send me more info as I'm about to resign before age 60 Iam just waiting as I was unfairly dismissed and the employers portion was not paid out to me that time I'm busy fighting for it have to wait or what do you think I should do

[@DhevanNaicker]

@avril, you can book a private one on one consult here: www.retirevsresign.co.za/consult/

[@jowheellhull8673]

I have only 12 years service. I turn 55 in Dec. Do I have an option of not taking a lumpsum, only a monthly income?

[@DhevanNaicker]

@jowheel, are you retiring or resigning?

[@jowheellhull8673]

@@DhevanNaickerI wanna go on early retirement...

[@DhevanNaicker]

@jowheellhull8673 GEPF rules will dictate your outcome. Best to seek council from them and confirm if your value is low and full withdrawal is allowed or if you would be subject to a gratuity and then monthly pension

[@leratomakaleng492]

Hi dev...if i decide to resing in december 2024 and put my resignation documents/ forms on 1st July2024 will i be affected by the two pot system?

[@DhevanNaicker]

@lerato, you will be affected. Also keep in mind that there could be another formula change. Did you start working before 1998?

[@leratomakaleng492]

Hi dev I started working in Jan 2000 Does it mean if resignation is before 1 September 2024, I won't be affected. Pls clarify...

[@DhevanNaicker]

@lerato, If your last working day is 31 Aug 2024 or earlier then you will not be affected. There’s more to this Lerato, especially if you want to save tax and protect your money from the markets. Email your GEPF statement to [e-mail] if you want to save time

[@leratomakaleng492]

@@DhevanNaicker Thanks for clarification. Will do.

[@khosisibisi4296]

The challenge that I have that when you resign you loose medical aid benifts, please give me a clarity on that situation

[@DhevanNaicker]

@Khosi, I created a special Medical Aid playlist for GEPF members who need help with medical aid. You will find this on my channel

[@zazindebele7500]

❤

[@RoshanSingh-d3o]

Can I make an appointment to meet with you

[@DhevanNaicker]

@Roshan, email [e-mail] to enquire on booking a consult

[@CherryBlosem-hw1pt]

Can i retire at 59

[@DhevanNaicker]

@Cherry, you can. You will need to get an updated statement based on your figures at age 59

[@ThomasThabo-r4m]

I want to resign 59 to get my money l will invest in bank rather than to get my pension as salary and half of it

[@DhevanNaicker]

@thomas, have you considered the tax implications of paying money to a bank account?

[@lydiamogopodi6148]

I want to attend master class

[@DhevanNaicker]

@Lydia, email [e-mail] for details on how to register

[@subhash8375]

No.