How much provident fund will I get?

Employee Provident Fund (EPF) is a collection of funds that both the employer and the employee contribute every month. It is a scheme that provides financial support to all salaried individuals post-retirement.

EPF is a retirement benefit plan and aims to ensure a financially independent retirement.

Provident Fund Withdrawal PF money can be fully withdrawn only after retirement and not when working except under some conditions. If a person is unemployed, he can withdraw 75% of the PF deposit after one month of unemployment and the remaining 25% after two months. PF can be withdrawn 2 or 3 times on a non-refundable basis.

The amount you will get from your Provident Fund in South Africa depends on several factors:

Contributions: The amount you and your employer have contributed to the fund over time.

Investment Growth: The growth of your investment is based on the fund’s performance.

Vested and Non-Vested Portions: Any contributions made to your provident fund before the 1st of March 2021, including the growth thereon, are deemed to be the ‘vested’ portion of your provident fund and will not be subject to the 2/3rds rule. However, from the 1st of March 2021, provident fund members who are younger than 55 years of age will see any further contributions on or after 1 March, and the growth thereon, deemed as the ‘non-vested’ portion of their fund, the value of which will be subject to the 2/3rds rule upon retirement.

Age: If you are 55 years or older at the 1st of March 2021, you will not be subject to the new rules for provident funds, regardless of whether further contributions are made from the date the amendments came into force1. This means you are allowed to withdraw the entire value of the fund as a lump sum, provided that any further contributions are made to the existing provident fund.

Practical examples of the new provident fund rules

Tax year 2024: Retirement & Death Benefits or Severance Benefits

Taxable income (R)Rate of tax (R)
1 – 500 0000% of taxable income
500 001 – 700 00018% of taxable income above 500 000
700 001 – 1 050 00036 000 + 27% of taxable income above 700 000
1 050 001 and above130 500 + 36% of taxable income above 1 050 000

Mr. Smith is currently 55 years of age and has been a member of the ABC provident fund for the past 30 years. He plans to retire at the end of this year.

At retirement Mr. Smith’s provident fund is valued at R2,150,000. Under the new rules, he would still be able to withdraw the entire fund value as a lump sum, which would then be subject to tax as per the above table.  

Mr. Smith decides to push out his retirement age to 65. On the 1st of March 2021, his provident fund is valued at R2,150,000 and he and his employer each contribute a monthly amount of R4,000 towards the ABC provident fund. At retirement, his estimated fund value is R5,378,352 assuming an 8% return per annum.

At retirement Mr. Smith will be able to withdraw the entire value as a lump sum, subject to tax, as he did not leave the ABC provident fund.

Mr. Smith still plans to retire at 65. On the 1st of March 2021, his ABC provident fund is valued as per the previous example. But instead of staying with ABC, he moves to XYZ provident fund where he also contributes R4,000 per month until his retirement.

Mr. Smith would be able entitled to withdraw the entire fund value of R4,641,689 he accumulated with ABC provident fund (the R2,150,000 plus growth) as a lump sum vested portion, again subject to tax.

His accumulated fund value with XYZ provident fund of R736,666, which would be classified as non-vested, would then be subject to annuitisation and he would only be able to withdraw 1/3rd of the fund value as a lump sum, with the remaining 2/3rds used to purchase an annuity. 

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Complete Guide to NSFAS Online Loan Application for South African Students (2025)

If you are a South African student looking to pursue higher education but are facing financial difficulties, the National Student Financial Aid Scheme (NSFAS) is one of the most accessible funding options available. NSFAS provides financial aid in the form of bursaries and loans to qualifying students at public universities and TVET colleges in South Africa.

This guide will walk you through everything you need to know about the NSFAS loan application process, from eligibility requirements to application steps and frequently asked questions.


📌 What is NSFAS?

The National Student Financial Aid Scheme (NSFAS) is a government-funded financial aid scheme aimed at helping students from low- and middle-income households to access tertiary education without the burden of upfront fees.

NSFAS offers both bursaries and income-contingent loans:

  • Bursaries: For eligible students who meet academic and household income criteria (especially for TVET and university students).
  • Loans: For students who do not meet all bursary criteria or who are pursuing postgraduate qualifications not funded under bursary schemes.

✅ Who Qualifies for an NSFAS Loan?

To qualify for an NSFAS loan (especially for postgraduate students or programs not funded under the bursary system), you must:

  • Be a South African citizen.
  • Be financially needy, with a household income of less than R350,000 per year.
  • Have a valid South African ID.
  • Be enrolled or accepted to study at a public university or TVET college.
  • Not be funded through another bursary program that covers all expenses.
  • Maintain satisfactory academic progress (returning students).

📚 Courses Funded by NSFAS

NSFAS primarily funds undergraduate qualifications, but certain postgraduate programs (e.g., PGCE, postgraduate diplomas in education, and professional courses like LLB) may be considered under the NSFAS loan scheme, not bursaries.

If you’re studying:

  • Undergraduate degree or diploma: You are likely eligible for a full NSFAS bursary.
  • Postgraduate study: You may qualify for a loan, depending on the course and funding availability.

📄 Required Documents for NSFAS Application

When applying, make sure you have the following documents scanned and ready:

  1. Certified copy of your South African ID or Smart Card.
  2. Parent(s) or guardian(s) ID documents.
  3. Proof of income (latest payslips, UIF, or affidavit if unemployed).
  4. Consent Form signed by your parent(s)/guardian(s) to allow NSFAS to verify income.
  5. Proof of registration or acceptance at a public institution.
  6. Academic transcripts (for continuing or postgraduate students).

🖥️ How to Apply for an NSFAS Loan Online

Step-by-Step NSFAS Online Application Process (2025)

  1. Visit the NSFAS Website

    Go to: https://www.nsfas.org.za

  2. Create an Account

    • Click on “MyNSFAS” and register your profile.
    • You’ll need a valid email address and South African cellphone number.
    • Choose a strong password and verify your account via email or SMS.
  3. Login and Start the Application

    • After registration, log in to your MyNSFAS account.
    • Click on “Apply” to begin a new application.
  4. Fill in Your Personal Details

    • Input your ID number, name, surname, and other details exactly as they appear on your ID.
    • Provide household income information and living arrangements.
  5. Upload Required Documents

    • Upload all supporting documents in PDF or JPEG format.
    • Each document must be clear and under the size limit specified.
  6. Submit Your Application

    • Review your application for accuracy.
    • Click “Submit” and wait for a confirmation message.
  7. Track Your Application

    • Log in regularly to check your application status.
    • You will be notified via SMS and email at each stage of the process.

🗓️ Important NSFAS Dates (2025)

  • Application Opening Date: September 1, 2025
  • Application Deadline: January 31, 2026
  • Appeals Period: February 2026 (if rejected)
  • Disbursement: After registration and approval

Note: Dates are subject to change; always confirm on the official NSFAS website.


💸 What Does the NSFAS Loan Cover?

NSFAS funding typically includes:

  • Tuition fees
  • Registration fees
  • Accommodation (if living away from home)
  • Meals and transport
  • Learning materials (e.g., textbooks)

For loans, repayment is only required once you start working and earn above a threshold (around R30,000 annually, but subject to change).


🔄 NSFAS Loan Repayment

Repayments are:

  • Income-contingent – you only repay when you can afford to.
  • Administered by DHET (Department of Higher Education and Training).
  • Interest-bearing, but interest rates are low and favorable.

You can also apply for a partial loan conversion to a bursary if you perform well academically.


🔁 How to Appeal a Rejected NSFAS Application

If your application is rejected, you may submit an appeal via your MyNSFAS portal:

  1. Log into your MyNSFAS account.
  2. Click on “Track Funding Progress”.
  3. If rejected, click on “Submit Appeal”.
  4. Upload any missing or corrected documents.
  5. Provide a clear explanation or motivation.

📱 NSFAS Contact Information


📝 Final Tips Before Applying

  • Apply early to avoid system overload near the deadline.
  • Use your own email and cellphone number (do not use someone else’s).
  • Double-check that all your documents are certified and legible.
  • Keep a copy of your submission confirmation for reference.

By following this guide, you can confidently apply for NSFAS funding and move one step closer to achieving your academic and career dreams—without the burden of immediate financial pressure.