Contributions

Every month, your employer contributes 16% or 18.5% (depending on your category) of your pensionable salary to the Fund on your behalf. The employer also pays the cost of the funeral and disability benefits, as well as the cost of the death benefits and administration costs (part of contribution payable to the Fund). The costs are reviewed annually.

You may make additional contributions to the Fund, should you wish to do so.

You will receive a 27.5% tax deduction for the total of ALL of your retirement fund contributions to all forms of retirement funds, limited to R430 000 per year. Any amount over R430 000 can be rolled over to the following year.

You may transfer any lump sum benefits accruing to you from previous provident or pension fund membership into the Fund. If you would like to make such a transfer, the admin team should be contacted on unisaret.admin@aforbes.co.za or 012 452 7000.

To what pot will contributions be allocated?

One-third of the total contributions will go to the Savings Pot. Two-thirds will go to the Retirement Pot. No contributions will go to the Vested Pot, it will only grow with interest.

If you were born before 1 March 1966 and are still in the same fund as you were on 1 March 2021, your contributions will not be split.

Can I transfer money from a previous fund into the UNISARF?

Yes. If you belonged to a Pension or Provident Fund with your previous fund or if you have a Preservation Fund you may transfer your money in that fund to the UNISARF. You can’t transfer from a Retirement Annuity to the UNISARF.

The amount you transfer will be credited in full to your Member Credit Account. The transfer will be tax-free.

Your Retirement Pot in the previous fund will be allocated to your Retirement Pot in the UNISARF.
Your Vested Pot in your Previous Fund will be allocated to your Vested Pot in UNISARF. However, in some Funds, members had a Vested and Non-Vested share in their Vested Pot. If you do not lose your Vested Share when transferring from your previous fund (please check this with your previous fund), your Vested Share will be allocated to your Vested Share in your Vested Pot in the UNISARF and your Non-Vested Share in your previous fund will be allocated to your Non-Vested Share in your Vested Pot in the UNISARF. However, you may elect to transfer your Vested Pot in your previous fund to your Retirement Pot in the UNISARF.
Your Savings Pot in your previous fund will be transferred to your Savings Pot in the UNISARF.

However, if you transfer your Vested Pot or Savings Pot from your previous fund to your Retirement Pot in the UNISARF, you will NOT have access to that money before retirement once transferred to the Retirement Pot and you cannot transfer back from the Retirement Pot to the Savings Pot or Vested Pot. This substantially reduces access to your money in an emergency and a lump sum portion at retirement.

Pot in my previous Fund	To what pot can it be transferred in the UNISARF
Savings Pot	Savings Pot or Retirement Pot
Vested Pot	Vested Pot or Retirement Pot
Retirement Pot	Retirement Pot