Can I invest more in a private RA if my company makes a contibution to a provident fund
By Marc Sevitz · Updated
My company makes a 100% contribution to my provident fund, including all fees. On my salary slip, this is shown as a company contribution, and not as a deduction. I understand that there is a tax benefit when contributing up to 15% of my non pensionable salary to a retirement savings scheme. Because the contribution is shown as a company contribution and not as a deduction, does this mean that I still have the full 15% available to contribute to a private RA?
If so, how do I calculate the maximum contribution I can make, given that I receive a monthly basic salary and December bonus, travel allowance and make a UIF contribution, with the provident fund contribution made by the company including fees?
If so, how do I calculate the maximum contribution I can make, given that I receive a monthly basic salary and December bonus, travel allowance and make a UIF contribution, with the provident fund contribution made by the company including fees?
Provident fund deductions are not deductible for tax purposes yet so you will be able to contribute the full amount to the RAF and get the benefit.