Fund Credits are being reclassified

From 1 March 2024, a member’s Fund Credit and their future contributions will be reclassified into a ‘vested pot’, ‘emergency savings pot’ and ‘retirement pot’.  We will change all Fund Credit records on our administration system to this new naming convention from 29 February 2024. You may recall the T-day tax legislation that came into effect on 1 March 2021 where a member’s Fund Credit was classified as ‘vested’ and ‘non-vested’ on our system. This means that the vested pot will have two sub-categories – the ‘T-day vested Fund Credit’ and the ‘T-day non-vested Fund Credit’.

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Source: Sanlam