CK
Chishanu K
1 reviews | Active since Nov 2025
19 Nov 2025, 13:39
I submitted my Retirement Annuity withdrawal request over 6 months ago after relocating from South Africa, and I am still waiting for my funds to be released
I submitted my Retirement Annuity withdrawal request over 6 months ago after relocating from South Africa, and I am still waiting for my funds to be released. For several months, there was back-and-forth communication with 10X indicating that SARS was declining the tax directive. However, when I contacted SARS directly to resolve the issue, they confirmed that everything had been finalized and approved on their end. Despite this, 10X has still not released my funds, and I have not received a clear explanation for the continued delay. My assigned consultant has become increasingly unresponsive to phone calls and emails, leaving me without updates on the status of my withdrawal. This lack of communication is particularly frustrating when dealing with one's retirement savings. I've noticed similar complaints from other customers experiencing the same issues: prolonged delays, difficulties reaching consultants, and lack of transparency in the withdrawal process.
Helpful (0)
Replies (1)0
Replies (1)
10x Investments's replyOfficial
19 Nov 2025, 14:05Good day Karombo,
Thank you for taking the time to share your feedback. I understand how stressful and frustrating this experience has been for you, and we sincerely apologise for the delays and the breakdown in communication you have encountered. This is not the level of service we aim to provide, especially when dealing with something as important as retirement savings.
We would like to clarify the situation regarding your Retirement Annuity withdrawal and the SARS processes involved.
1. SARS Cessation Approval vs SARS Tax Directive – These Are Two Different Processes
There are two separate SARS steps required before a retirement annuity can be paid out when a client emigrates or ceases tax residency:
(A) SARS Cessation / TCS Approval (Tax Compliance Status)
- This is the process SARS uses to confirm that you have formally ceased tax residency.
- SARS may well have approved this on their side, which matches what you mentioned.
However, cessation approval does not authorise a withdrawal.
(B) SARS Tax Directive (Final Tax Instruction to 10X)
- This is a separate application we must submit to SARS.
- The tax directive is the legal instruction that tells 10X whether to release the funds and how much tax must be withheld.
Without an approved tax directive, we are legally prohibited from paying out the retirement annuity.
2. Status of Your Tax Directive
On our system, the SARS directive currently shows as “Declined”.
We communicated this in our previous emails and calls, and we are unable to proceed until SARS provides an approved directive.
We communicated this in our previous emails and calls, and we are unable to proceed until SARS provides an approved directive.
If SARS has informed you that the directive is approved on their side, we kindly ask that you please email us a copy of the approved directive or the SARS reference so that we can immediately escalate this with our tax directive team. This will help us resolve the discrepancy between what SARS communicated to you and what we are receiving electronically through the platform.
3. Communication
I acknowledge your concern about difficulty reaching your consultant. We apologise for this experience and will ensure that your case is now monitored more closely. You will receive direct follow-up from our team to avoid further delays.
4. Next Steps
To resolve this urgently, please provide:
- A copy of the SARS confirmation you received,
You may email it to: ***
We will then escalate this immediately with SARS and keep you updated throughout.
We will then escalate this immediately with SARS and keep you updated throughout.
Kind regards,
10X Client Services
10X Client Services
10x Investments's reply19 Nov 2025, 14:05
Official
Good day Karombo,
Thank you for taking the time to share your feedback. I understand how stressful and frustrating this experience has been for you, and we sincerely apologise for the delays and the breakdown in communication you have encountered. This is not the level of service we aim to provide, especially when dealing with something as important as retirement savings.
We would like to clarify the situation regarding your Retirement Annuity withdrawal and the SARS processes involved.
1. SARS Cessation Approval vs SARS Tax Directive – These Are Two Different Processes
There are two separate SARS steps required before a retirement annuity can be paid out when a client emigrates or ceases tax residency:
(A) SARS Cessation / TCS Approval (Tax Compliance Status)
- This is the process SARS uses to confirm that you have formally ceased tax residency.
- SARS may well have approved this on their side, which matches what you mentioned.
However, cessation approval does not authorise a withdrawal.
(B) SARS Tax Directive (Final Tax Instruction to 10X)
- This is a separate application we must submit to SARS.
- The tax directive is the legal instruction that tells 10X whether to release the funds and how much tax must be withheld.
Without an approved tax directive, we are legally prohibited from paying out the retirement annuity.
2. Status of Your Tax Directive
On our system, the SARS directive currently shows as “Declined”.
We communicated this in our previous emails and calls, and we are unable to proceed until SARS provides an approved directive.
We communicated this in our previous emails and calls, and we are unable to proceed until SARS provides an approved directive.
If SARS has informed you that the directive is approved on their side, we kindly ask that you please email us a copy of the approved directive or the SARS reference so that we can immediately escalate this with our tax directive team. This will help us resolve the discrepancy between what SARS communicated to you and what we are receiving electronically through the platform.
3. Communication
I acknowledge your concern about difficulty reaching your consultant. We apologise for this experience and will ensure that your case is now monitored more closely. You will receive direct follow-up from our team to avoid further delays.
4. Next Steps
To resolve this urgently, please provide:
- A copy of the SARS confirmation you received,
You may email it to: ***
We will then escalate this immediately with SARS and keep you updated throughout.
We will then escalate this immediately with SARS and keep you updated throughout.
Kind regards,
10X Client Services
10X Client Services