Dear Pensioner
Monthly pension payments are paid by EPPF to pensioners, as well as to the beneficiaries of in-service members or pensioners who have passed away.
What you need to do now if you receive more than one income
SARS has just issued a flat rate tax directive for pensioners with more than one income for the 2024/2025 tax year. This may mean the tax you’re paying on your additional income is not enough to cover your tax liability once SARS completes your assessment.
You now have the option to opt out of the flat rate tax directive from SARS. Instead, you can pay voluntary tax.
If SARS determines you have paid extra tax, you’ll be eligible for a refund. This refund will be paid to you by SARS.
SARS has more information that you can read
Please click on this link to read more from the SARS website: Income from two sources | South African Revenue Service
Email us if you want to opt out of the flat rate tax directive and you want to pay voluntary tax
If you want to pay voluntary tax aside from the Pay As You Earn (PAYE) that is deducted every month, please send the following information to us by Monday, 15 April 2024, in order for the deduction to reflect in your May payment:
You will need to email this information to us via tax@eppf.co.za
If you’re receiving an additional income and want to pay tax according to the flat rate directive from SARS, there is no action required from you.
If you don’t receive an additional income, there is no action required from you on this matter.
Kind Regards
The EPPF team
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