0860 22 22 88

[email protected]

Helpdesk hours: 8h00 to 16h00 Monday to Friday.

Walk-in Help Desk
1 Adderley Street
Cape Town

Check your fund balance here: Register/Login

Member Information


Thacsa is a defined contribution fund. This means that you have your own savings account in the Fund, which is called your Member’s Share. Every month you and your employer contribute a fixed percentage of your pensionable salary towards the Fund. Your benefit statement clearly shows the percentage and value of your salary that you and your employer contribute.

thacsa member

What are the benefits?

As a member of Thacsa Retirement Fund you are not only ensuring that you are making provision for your retirement, you also have the peace of mind that you and/or your family will be covered in the case of any unexpected event such as your disability or even death.

Disability – If you are disabled while employed, and your claim is approved by the insurer, you will receive an income of 75% of your pensionable salary. There is a three-month waiting period while your claim is being assessed.

Retirement – Normal retirement age is 65, but you can retire from age 55 depending on your employer’s policy.

Housing – Your Member’s Share can be used as surety on a home loan.
Death benefit – If you die while working, your beneficiaries will receive four times your annual pensionable salary plus your Member’s Share.

Funeral benefit – If you, your spouse or children, die while you are a Thacsa member, you are eligible for a funeral benefit up to a maximum of R30 000.

How contributions and deductions are calculated

Your Contributions
Employer Contributions
Total Contributions
5% 5% 10%
6% 6% 12%
6.5% 7.5% 14%
7% 7% 14%
7.5% 7.5% 15%
8% 7.5% 15.5%
Percentage of Pensionable Salary
Death (underwritten by Sanlam) 2.218%
Disability (underwritten by Sanlam) 0.856%
Administration fee (incl of VAT) 0.640%
Total  3.714%

Funeral benefit monthly premium (deducted as a flat ZAR amount) 


Miscellaneous expense

R10.00 plus 0.04% of member’s share of fund per member per month

How contributions are used

1. Once the Fund receives your and your employer’s contribution, the costs for death, disability and funeral cover, and administration are deducted from the employer’s portion.

2. There is a miscellaneous expense of R10,00 plus 0.04% deduction of Share of Fund per member per month.

3. The remaining part of the employer’s payment plus your contribution is invested by the Fund. This amount and any interest earned on your investments are added to your Member’s Share, and it is shown on your benefit statement.

4. The Board of Trustees appoints service providers to manage the Fund’s investments on their behalf. This is an extremely responsible function and they follow a specific investment strategy to try and maximize returns for all members.

Check your fund balance here: Register/Login

Fund Benefit Scenarios

Withdrawal – ending service before actual retirement

If you withdraw your Member’s Share before retirement – this includes resignation, retrenchment or dismissal from your current job – your accumulated savings and investment will be paid to you as a one-off payment after tax is deducted.
The amount payable to you will determine how much tax you will have to pay.
Prevailing SARS rates to February 2024 are as follows:

Taxable income (R) Rate of Tax
1 – 237 100 18% of taxable income
237 101 – 370 500 42 678 + 26% of taxable income above 237 100
370 501 – 512 800 77 362 + 31% of taxable income above 370 500
512 801 – 673 000 121 475 + 36% of taxable income above 512 800
673 001 – 857 900 179 147 + 39% of taxable income above 673 000
857 901 – 1 817 000 251 258 + 41% of taxable income above 857 900
1 817 001 and above 644 489 + 45% of taxable income above 1 817 000

If you move from one job to another it is almost always advisable to preserve your investment and not spend the cash windfall on some extravagance. Always try to re-invest your Member’s Share into some form of investment that will continue to grow for your retirement. Using your Member’s Share before time could negatively impact on your ability to retire comfortably one day.

The name of the retirement game is to preserve, preserve, preserve your investment.
If you are unsure of exactly what to do it may be advisable to use the services of a financial advisor.

Download the Benefit Claim Form here or contact the Help Desk for assistance by phone 0860 22 22 88 or email [email protected] 

Normal Retirement

Assuming all goes well your normal retirement age is 65, but you can retire from age 55. If your Member’s Share is R247 500 or less you have the option of taking the full amount as a cash payment. If your Member’s Share exceeds R247 500 you can be paid 1/3 in cash and the remaining 2/3 as an income. You also have the option of using all of your Member’s Share to purchase a monthly pension. It is always advisable to contact your financial advisor for more information on these options.

Here are three possible scenarios for your retirement income:
• Single-life annuity
This single-life annuity only provides you with an income and will cease when you die. This is calculated at a higher rate, as you are not making provision for a spouse’s pension in the case of your death.
• Joint-life annuity
This annuity is calculated at a lesser rate than the single-life annuity and is designed for you to receive an income and in the event of your death, your spouse or common-law partner will continue to receive the income. A guaranteed income is payable until the last person in the relationship dies.
• Living annuity
A living annuity provides you with investment choice as dictated by the underlying investment choices. You can select and change the investments in accordance with certain terms and requirements. Upon your death, the balance that remains in your annuity is paid to your beneficiaries and payments can be structured according to their circumstances.

The benefits payable are subject to taxation, the following table provides the prevailing rates as per current SARS tax brackets:

Taxable Amount (R) Rate of Tax
0 – 500 000 0%
500 001 – 700 000 18% of amount exceeding R500 000
700 001 – 1 050 000 R36 000 + 27% of amount exceeding R700 000
1 050 001 – and above R130 500 + 36% of amount exceeding R1 050 000

Download the Benefit Claim Form here or contact the help desk for assistance.


Should you become disabled while still working and it is approved by the insurer, you will be eligible for a disability benefit. There is typically a three-month waiting period for your claim to be assessed. This cover stays in place for two months after leaving service.

• You will receive a monthly income of 75% of your pensionable salary through to retirement age.
• You must continue to contribute to the Fund as normal and the insurer will become responsible for the employer’s contribution.
• Once you reach retirement age the normal payment package and options apply.
• If you are declared fit to return to work the income disability benefit will stop.
• If you die while receiving the monthly disability income, you will be covered for the death and funeral benefits as normal.

Download the Disability Benefit Claim Form here or contact the Help Desk for assistance.


If you pass away while in service a one-off benefit equivalent to four times your annual pensionable salary plus your Member’s Share becomes payable to your nominated beneficiary/s. This cover stays in place for six months after leaving service.

For example: If your annual pensionable salary is R150 000 and your Fund Credit is R200 000, then the one-off benefit will be:
4 x R150 000 = R600 000 PLUS the R200 000 Fund Credit, for a total payment of R800 000.
The death benefit is payable in terms of Section 37C of the Pension Funds Act to your nominated beneficiary/s. It is extremely important that you complete the beneficiary nomination form and update it regularly with your employer.

You must complete 2 beneficiary nomination forms…
It is IMPORTANT to formally nominate beneficiaries in the event of your death.

Changes to the laws governing beneficiaries in the Insurance Act 18 of 2017, now means that you must complete two beneficiary nomination forms:
1. Thacsa Beneficiary Nomination Form – this guides the Trustees in the distribution of your death benefit which is 4x annual pensionable salary plus your accumulated Fund Value. Click here to download the form
2. Sanlam Beneficiary Nomination Form – this lists the people who will receive the funeral benefit upon your death. If you do not complete this form your benefit will be paid into your estate and will lead to delays in your family getting the money for your funeral. Click here to download the form

The beneficiary nomination form serves as a guideline when a decision is made by the Trustees on who the death benefits should be paid to. You will also be eligible for the funeral benefit, see below.

Download the following documents here: Death Benefit Claim Form | Funeral Benefit Claim Form | Funeral Support and Burial Repatriation or contact the help desk for assistance.

Funeral Benefit

There are a number of additional benefits that fall under this cover free of charge and at any time.
They include:
• Repatriation benefit: If you, your spouse or children die while you are in service the insurer can arrange for the transportation of the remains to the final resting place in South Africa. A family member may accompany the remains.
• Funeral assistance: The insurer can recommend reputable funeral parlours and other related service providers to assist with arrangements.
• Legal assistance: The insurer can also provide legal advice on a wide range of matters such as obtaining the death certificate and cross-border transportation of the remains.

The death and funeral benefit beneficiary nomination forms have now been combined into one form. But is is extremely important that you complete BOTH sections of the form before lodging it with your employer.
Download the form here:

Beneficiary Nomination Form (Combined)

Accessing the Funeral Benefit

For a detailed list of the benefits click here: Sanlam Burial Repatriation.

Should you need to make use of this benefit, please contact Sanlam directly via their specialised call centre: 0860 732 548/9

Housing Loans

The Fund issues surety for home loans through Standard Bank. The loan, once approved, must be used for housing purposes such as the purchasing of property, improving or repairing/maintaining your existing property. Your employer has to enter into an agreement with the bank before you may apply.

The loan is subject to the bank’s approval under the National Credit Act. You can apply for a minimum amount of R3 000 up to a maximum of 60% of your Member’s Share if you are under the age of 50 or 30% of your Fund Credit if you are older.

The loan is repayable at the prime lending rate plus 0.75% over a maximum period of 10 years, depending on the years you have left until retirement.

Follow these steps when applying for a home loan:
• Confirm whether your employer has an agreement with Standard Bank as they will be responsible for deducting the loan installment from your salary.
• Contact the Help Desk for your surety amount (maximum amount you can apply for). Complete the application form and submit the form and supporting documents to the Help Desk.
• The Help Desk is also available to assist with the completion of the document.
• The Help Desk will submit your application form to the bank.
• Standard Bank will contact you directly to advise whether your loan has been approved. If yes, the money will be paid directly to you.

The Standard Bank pension-backed housing loans office contact centre number is 0861 009429.

Download the Housing Loan application form here.

Additional information can be found in our Member Booklet