Quick Facts

• Unit trusts: 2-3 business days
• Retirement funds: Up to 30 days
• Death claims: 10-15 working days
• Two-pot withdrawals: Within days to 2 weeks
• Contact: 0860 726 526 for updates

Understanding Sanlam Investment Payouts

Sanlam is one of South Africa’s largest financial services companies. They manage billions of Rands in investments for millions of South Africans. When you want to withdraw money from your Sanlam investment, the payout time depends on what type of investment you have.

Different investment products have different payout times. Some pay out in days. Others can take weeks or even months. This guide explains exactly how long each type of Sanlam investment takes to pay out in 2025.

The payout time also depends on whether you have submitted all the correct documents. Missing paperwork is the main reason for delays at Sanlam.

✅ Unit Trust Payouts (Fastest Option)

Payout Time: 2-3 business days

Sanlam unit trusts have the fastest payout time. Once you submit your withdrawal request, the money reaches your bank account within 2 to 3 business days. This applies to both full and partial withdrawals.

How to Withdraw from Unit Trusts:

1. Log into Sanlam Secure Services online
2. Complete the Unit Trust Disinvestment Form
3. Submit proof of your bank account (not older than 3 months)
4. Wait 2-3 business days for the money

Important Rules:

• Withdrawals only go to your registered bank account
• Cannot send money to credit cards or third parties
• New investments take 15 days to clear before you can withdraw
• Debit order contributions take 28 days to clear

⚠️ Retirement Fund Withdrawals (When Changing Jobs)

Payout Time: Up to 30 days

When you leave your job and want to withdraw from your Sanlam retirement fund, the process takes longer. It can take up to 30 days from when all requirements are met. This is because your employer must first send final information to Sanlam.

The Process:

1. You leave your job and notify your employer
2. Your employer must send final contribution schedule to Sanlam by the 7th of the month
3. Sanlam processes your withdrawal request
4. SARS issues a tax directive (can take time)
5. Money is paid into your account

What Causes Delays:

• Employer delays in sending final contribution schedule
• Missing identity documents or bank statements
• Incorrect bank account details
• Outstanding tax obligations with SARS
• Incomplete withdrawal forms

Two-Pot Retirement System Withdrawals

Payout Time: Within days to 2 weeks for most claims

Since September 2024, South Africa has a new two-pot retirement system. This system lets you access part of your retirement savings before you retire. Sanlam processed over 20,000 claims in the first two days alone in September 2024.

How to Request a Two-Pot Withdrawal:

1. Get the savings withdrawal form via Sanlam Secure Services or WhatsApp 0860 726 526
2. Complete the form with your income tax reference number
3. Submit copies of your ID and recent bank statement (not older than 3 months)
4. Submit the form to life@sanlam.co.za or via Secure Services
5. Sanlam requests a tax directive from SARS
6. You receive confirmation when payment is made

2025 Statistics:

• 98% of claims submitted electronically
• 86% of claims processed successfully
• 2% rejected due to incorrect information
• Average tax rate of 20% on withdrawals
• 971 claimants received nothing due to outstanding tax

Sanlam Endowment Policy Payouts

Payout Time: Similar to unit trusts after restriction period

Sanlam endowment policies, like the Wealth Edge Endowment Plan, have a five-year initial term. During the first five years, there are strict limits on withdrawals. After five years, you can withdraw more freely.

First 5 Years (Restriction Period):

• You can make ONE withdrawal only
• Withdrawal limited to contributions plus 5% per year
• Subject to legislative limits from Long-Term Insurance Act
• Designed to encourage long-term saving

After 5 Years:

• Can withdraw as needed
• Must maintain minimum balance until termination
• Payout times similar to unit trusts
• Wealth Bonus rewards added at years 5, 8, and 10

Death Claim Payouts

Standard Claims: 10-15 working days
Immediate Expenses: 48 hours

If someone with a Sanlam life insurance or investment policy dies, the beneficiaries can claim the money. Sanlam processes death claims faster than most other claims.

Required Documents for Natural Death:

• Certified copy of official death certificate from Home Affairs
• Certified copy of deceased’s ID
• Banking details form and proof of beneficiary’s bank account
• Certified copy of beneficiary’s ID
• BI-1663 form (Notification of Death) completed by doctor

Additional for Unnatural Death:

• Police report
• Post-mortem results if required
• Medical certificates if requested

Immediate Expenses Benefit:

If the policy includes an Immediate Expenses benefit, Sanlam pays out within 48 hours. This money helps cover funeral costs and urgent expenses. The full life cover payout comes later after the claims process is completed.

Death Claims Contact:

Call 0860 726 526 or email claims@sanlam.co.za for death claim assistance. Operating hours: Monday to Friday, 08:00 to 16:00.

🚨 Common Reasons for Payout Delays

Many Sanlam customers experience delays in receiving their investment payouts. Here are the most common reasons and how to avoid them:

1. Missing Documentation:

• Bank statement older than 3 months
• No certified copy of ID
• Incomplete withdrawal forms
• Missing proof of address

2. Outstanding Tax Obligations:

• SARS issues IT88 notice for tax debt
• Tax debt deducted from withdrawal
• Some people receive nothing if tax exceeds withdrawal
• Check tax status BEFORE withdrawing

3. Incorrect Bank Details:

• Wrong account number or bank branch
• Account not in your name
• Credit card accounts not accepted
• Double-check details before submitting

4. Employer Delays:

• Employer late sending final contribution schedule
• Must be received by 7th of the month
• Contact your HR department if delayed
• Sanlam cannot process until employer submits

5. Poor Communication from Sanlam:

Customer reviews in 2025 show many complaints about:

• No response to emails or WhatsApp
• Repeated requests for same documents
• Delays stretching to 3-5 months
• Difficulty reaching human consultants

🚨 Sanlam Investment Scams – Stay Alert

Scammers are actively targeting South Africans by impersonating Sanlam. In 2025, there has been a major increase in fake investment schemes using Sanlam’s name. Never send money to anyone claiming to be from Sanlam without verifying.

Current Scams Targeting Sanlam Customers:

1. Telegram Investment Scams:

• Scammers create fake Telegram groups posing as Sanlam
• Promise to double your money in days
• Request payment in Bitcoin or cryptocurrency
• Use Sanlam logos and fake FSCA certificates
• FACT: Sanlam NEVER contacts clients via Telegram

2. Fake Banking Detail Changes:

• Scammers send emails requesting bank detail updates
• Email looks like it’s from Sanlam but isn’t
• Aims to redirect your payouts to their account
• ALWAYS verify by calling 0860 726 526

3. Vault Account Fraud:

• Scammer poses as Sanlam’s fraud department
• Claims your account is compromised
• Asks you to move money to “safe vault account”
• Money goes straight to the scammer
• Sanlam NEVER asks you to move money for “security”

4. Impersonation on Social Media:

• Fake Sanlam profiles on Facebook, WhatsApp, Instagram
• Send direct messages about “special offers”
• Request card details including CVV number
• Sanlam NEVER requests card details via social media

How to Protect Yourself:

1. Verify Everything: Before engaging with any Sanlam offer, call 0860 726 526 to confirm
2. Check FSCA Registration: Visit www.fsca.co.za to verify financial service providers
3. Never Share PIN or CVV: Sanlam will never ask for these
4. Be Skeptical of High Returns: If it sounds too good to be true, it is
5. Use Official Channels Only: Log into www.sanlam.co.za directly, don’t click email links

Report Scams Immediately:

• Sanlam Fraud Hotline: Report at www.sanlamonline.co.za/stay-safe-online/scams
• FSCA: 0800 110 443 or www.fsca.co.za
• SABRIC: www.sabric.co.za (South African Banking Risk Information Centre)
• Police: Open a case at your nearest police station

✅ How to Track Your Sanlam Payout

After submitting your withdrawal request, you can track its progress through several methods:

Online Tracking:

1. Log into Sanlam Secure Services at www.sanlam.co.za
2. Click on “Transact” in the top navigation
3. Select “Service Requests”
4. View your withdrawal status

Updates via SMS or Email:

Sanlam sends automatic updates on your claim status. Make sure your contact details are current.

Contact Customer Care:

• General Queries: 0860 726 526
• Investment Queries: 0860 100 266
• Corporate Clients: 086 122 3646
• Email: life@sanlam.co.za or service@sanlaminvestments.com
• WhatsApp: 0860 726 526 (select option 9)
• Hours: Monday to Friday, 08:00 – 17:00

⚠️ What to Do if Your Payout Doesn’t Arrive

If your expected payout time has passed and you haven’t received your money, follow these steps:

Step 1: Check Your Bank Account

• Allow 2-3 business days for inter-bank clearing
• Check if payment went to correct account
• Verify no bank issues or account problems

Step 2: Contact Sanlam Customer Care

• Call 0860 726 526 during business hours
• Have your reference number ready
• Ask for specific reason for delay
• Request estimated completion date
• Get name of consultant you speak to

Step 3: Submit Written Complaint

If phone calls don’t resolve the issue within 7 days:

• Submit complaint at www.sanlam.co.za/contact/complimentsandcomplaints
• Email SCClientCare@sanlam.co.za
• Include all relevant documents and reference numbers
• Request written response within specified timeframe

Step 4: Escalate to Regulators

If Sanlam doesn’t resolve your complaint satisfactorily:

• FSCA (Financial Sector Conduct Authority): 0800 110 443 or www.fsca.co.za
• Pension Funds Adjudicator: (012) 346-1738 (for retirement fund issues)
• FAIS Ombud: (012) 470-9080 (for investment advice issues)

Understanding Tax on Investment Payouts

Most Sanlam investment payouts are subject to tax. The amount of tax depends on the type of investment and your income level. Understanding this helps you know how much money you’ll actually receive.

Retirement Fund Withdrawals:

• Tax calculated based on your total annual income
• SARS issues tax directive before payout
• Average tax rate in 2025: 20%
• Outstanding tax debt deducted automatically
• Some people receive nothing if debt exceeds withdrawal

Two-Pot System Withdrawals:

• Added to your taxable income for the year
• Taxed at your marginal tax rate
• Example: If you earn R300,000 per year, tax rate is 26%
• Withdrawing R10,000 = R7,400 after tax
• No tax relief available for savings component withdrawals

Unit Trust Withdrawals:

• Capital gains tax may apply
• Only on profit, not total withdrawal
• First R40,000 annual gain is tax-free
• After that, 40% of gain is taxable

Tax-Free Savings Accounts:

• No tax on withdrawals
• Lifetime limit of R500,000 contributions
• Withdrawals count toward lifetime limit if re-invested

For Fastest Payouts: Unit trusts offer the quickest access to your money (2-3 days). If you need money urgently, this is your best option.

For Retirement Withdrawals: Allow 30-45 days for the full process. Contact your employer immediately when leaving to ensure they submit documents on time. Check your tax status with SARS before withdrawing.

For Death Claims: Submit complete documentation immediately. The Immediate Expenses benefit pays within 48 hours for funeral costs. Standard claims take 10-15 working days.

To Avoid Delays: Always submit correct and complete documentation. Use electronic submissions through Sanlam Secure Services. Keep your contact details up to date. Save all reference numbers.

If Experiencing Delays: Contact Sanlam immediately at 0860 726 526. If not resolved within 7 days, submit written complaint. Escalate to FSCA at 0800 110 443 if necessary.

Protect Yourself: Never trust anyone contacting you via Telegram or social media claiming to be from Sanlam. Always verify by calling official numbers. Report scams immediately to FSCA and police.