Fund Value
What is your Fund Balance?
This amount is made up of:
- The total contributions towards retirement savings (employee and employer)
- PLUS Any amount transferred from a previous Fund
- PLUS Investment Returns (remember these can be positive or negative depending on the portfolio you are invested in).
- LESS Expenses
Members who were born after 1 March 1966
Your Fund Balance is divided into three pots as follows:
| VESTED POT | All the money in The Hospitality and General Provident Fund saved up to 31 August 2024 will be in this pot, except for a small portion transferred to your Savings Pot when this pot was created. The withdrawal and retirement benefits rules for the money in this pot are the same as they were before 1 September 2024. You can only access this money when you leave the Fund. |
| SAVINGS POT (Emergencies only) | This pot is only for emergencies, and you don’t have to take the money out if you don’t need it. You can only take money out of this pot once per tax year and you must take a minimum of R2 000. If you do request a cash withdrawal, you'll have to pay tax and an administration fee. The tax you pay will match your income tax rate. |
| RETIREMENT POT | You can't access this money until you retire. When you do retire, you have to use this money to buy a pension, unless it is less than R165 000, when you can take it in cash. |
Members who were born before 1 March 1966, but decided to opt into the Two-Pot system
Your Fund Balance is divided into three pots as follows:
| VESTED POT | All the money in The Hospitality and General Provident Fund saved up to the date that you decided to opt in will be in this pot, except for a small portion transferred to your Savings Pot when this pot was created. The withdrawal and retirement benefits rules for the money in this pot are the same as they were before you decided to opt in. You can only access this money when you leave the Fund. |
| SAVINGS POT (Emergencies only) | This pot is only for emergencies, and you don’t have to take the money out if you don’t need it. You can only take money out of this pot once per tax year and you must take a minimum of R2 000. If you do request a cash withdrawal, you'll have to pay tax and an administration fee. The tax you pay will match your income tax rate. |
| RETIREMENT POT | You can't access this money until you retire. When you do retire, you have to use this money to buy a pension, unless it is less than R165 000, when you can take it in cash. |
Where can I find out more about each pot?
Click here to watch our short videos of how each pot works.
* Your Fund Balance can also be obtained online.
Hot Topics
National Wills Week 2024
From 16-20 September, you can get a Will drafted by a participating attorney FOR FREE.
How to Claim
How to claim from your Savings Pot in EMERGENCIES ONLY
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CALL CENTRE:
Telephone: 011 838 3751
Email: info@hgpf.co.za
Borwa House:
No 3 Anderson Street,
Ferreira’s Dorp,
Marshalltown,
Johannesburg
