Changing jobs does not reset your retirement savings. The key issue is how the different retirement-fund components move or remain invested when you leave the old employer's fund.
Retirement component
SARS guidance says the retirement component generally cannot be taken as a pre-retirement lump sum on resignation or job change and must generally transfer to another retirement fund.
Savings component
The savings component has its own withdrawal rules. Taking a savings withdrawal is not the same thing as an ordinary resignation withdrawal and is generally taxed at your marginal income-tax rate.
Vested component
The vested component contains retirement savings and rights carried into the Two-Pot system. The exact treatment can depend on the fund and applicable vested rights.
Compare the destination
Your options may include a new employer fund, preservation arrangement or an available paid-up option. Compare fees, investment choices and fund rules before signing a transfer instruction.
Read changing jobs, new employer transfer questions and preservation.
Primary sources
For material tax and Two-Pot decisions, check the current rules directly with SARS and your retirement fund. Useful official sources include SARS retirement lump-sum tax tables and SARS Two-Pot guidance.
Before you submit a withdrawal or transfer instruction
Get a free review of the options you are considering. If personalised assistance is appropriate, your enquiry may be referred to an appropriately authorised financial adviser/FSP.
Request a free retirement-fund review