Sanlam Retirement annuity

A Sanlam Retirement Annuity is a long-term investment designed to provide you with a steady income during retirement. When you retire, you can take up to one-third of your accumulated savings as a cash lump sum, while the remaining amount is used to provide you with a monthly income.

Key Features of Sanlam Retirement Annuity

  • Flexible Withdrawals: Upon retirement, you can withdraw up to one-third of your total savings as a lump sum. The rest is converted into a monthly income.
  • Online Access: Check your annuity details online or via the “Sanlam My Retirement” mobile app, available on Google Play Store and Apple App Store.
  • Loan Options: Your retirement fund can lend you money or provide a guarantee for a loan if it is used to buy, build, or renovate a property you or your spouse occupy.

How to Check Your Sanlam Annuity

You can easily view your Sanlam Retirement Annuity information online or through the mobile app. If you encounter any issues during registration or need assistance, contact the Sanlam contact centre at 0861 223 646.

Withdrawal Rules

The rules for withdrawing from your Sanlam Retirement Annuity are straightforward:

  • Maximum Lump Sum: You can withdraw up to one-third of your total savings as a cash lump sum. For example, if your RA balance is R3 million, you can withdraw up to R1 million.
  • Full Withdrawal: If the total amount in your retirement annuity is less than R15,000, you can withdraw the entire amount.

Can You Cancel Your Retirement Annuity?

Yes, you can cancel your retirement annuity and get your money back if the total amount is less than R15,000 on the date it is paid out.

Borrowing from Your Retirement Annuity

Sanlam allows you to borrow money from your retirement fund or use it as a guarantee for a loan, provided the loan is used for property-related purposes. This includes buying, building, or renovating a property that you or your spouse will occupy.

Benefits of Sanlam Retirement Annuity

  1. Tax Benefits: Contributions to your retirement annuity are tax-deductible, reducing your taxable income.
  2. Investment Growth: Your savings grow over time, thanks to the power of compound interest and professional fund management.
  3. Financial Security: Provides a steady income during retirement, ensuring financial stability.
  4. Flexibility: Offers flexible withdrawal options and loan facilities for property-related investments.

Conclusion

Sanlam Retirement Annuities offer a comprehensive solution for securing your financial future. With flexible withdrawal options, tax benefits, and the ability to borrow against your savings, Sanlam provides a versatile and reliable retirement planning tool.

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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.