5 questions to ask yourself before you take from your two-pot savings

There has been a surge in two-pot savings withdrawals since 1 March 2026, as many attempt to keep up with life’s financial demands. Just last week, more than 100,000 withdrawals were made at Alexander Forbes, causing users to experience technical difficulties on the website. But an expert says drawing on your savings can negatively impact your family’s financial stability in the long run.

Old Mutual Personal Finance has urged South Africans to pause and seek professional financial advice before withdrawing any more money from the two-pot retirement fund. “When you’re pulled in many directions at once, another withdrawal can feel like the quickest solution, but good financial advice helps you step back, weigh the trade-offs and avoid undoing years of disciplined retirement planning,” said Liezl Budhram, the head of advice at Old Mutual. Findings from a two-pot withdrawal survey conducted by Old Mutual Corporate’s Member Insights revealed that repeated withdrawals are becoming a significant behavioural risk.

“People are juggling multiple and often conflicting financial priorities, from school fees and household costs to debt repayments and family responsibilities,” Budhram says. Nearly 80% of members who have already made one withdrawal said that they were more likely to withdraw again next year. 79% of withdrawals made by users to pay off debt are also expected to repeat this habit, signalling that withdrawals risk becoming an annual activity for many households.

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“Once withdrawals become habitual, families erode the benefit the system is designed to deliver, which is why informed decisions now matter more than ever,” Budhram says. “The reform works when the preserved portion has time to grow.”

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