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Dear Prince

We acknowledge receipt of your complaint on HelloPeter.

Did you know that you can check if your policy falls under the Two Pot Retirement System by simply accessing our chatbot through our website www.metropolitan.co.za or by sending a WhatsApp message to ***. It is advisable to have your Tax number and annual income ready, as these withdrawals are subject to tax clearance from SARS and in order to obtain this clearance, you will need to enter this information on the chatbot, to see if you qualify for a withdrawal. Please also be aware that, should you qualify for a withdrawal:

• The minimum withdrawal amount is R2 000 
• You may withdraw only once per tax year
• A withdrawal is subject to tax on the withdrawal amount
• If you have any arrear tax outstanding with SARS, SARS will instruct us to deduct this amount and pay it over to them along with the tax on the withdrawal itself
• A withdrawal fee is deducted each time you withdraw from your savings component

 Always remember that a withdrawal might address an immediate financial need now, but exercising such a withdrawal not only takes the withdrawal amount, tax and administration fee out of your savings component, but also any growth this money could have attracted/earned for you over the remaining years of your plan.
Regards

Client Care Team