Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Tax on pension contributions



Switlips says:
16 February 2017 at 10:23

I save money in a separate bank account and plan to use it once I retire, can I claim it as a retirement fund contribution?

TaxTim TaxTim says:
16 February 2017 at 11:04

You unfortunately cant claim this savings as a pension contribution as it is not held by a retirement fund.

This entry was posted in Tax Q&A and tagged , . Bookmark the permalink.




Do your Tax Return in 20 minutes or less!

TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.