Hi, I am MChat! I am Geraldine's trusted assistant on the YX Employee Benefit Fund. I can explain fund benefits, guide you through claims processes, support annual benefit reviews, and even calculate premiums. I will answer your questions plain and simple in any South African language. Just ask ...
How do I add a beneficiary?
I am resigning, what are my options?
I want to add extended family to my funeral benefit, what will it cost me?
- Employee Benefits Product Specialist
pieter@molo.page
Phone
0832252986
Website
https://www.yxebfund.co.za
https://www.linkedin.com/geraldine
X
https://x.com/gmwalaso
0832252986
Geraldine Mwalaso
04 Aug 2025
Your YX benefits explained: costs, cover & value
Being part of the YX Employee Benefit Fund means you get retirement savings, insurance, and funeral benefits — plus extra value-added services. Here’s a simple guide to what’s included, what it costs, and how it works.
Retirement Savings
Your total savings = your contributions + employer contributions + investment returns – costs.
Contribution Categories
- Category 1: You pay 2% of salary, employer pays 2% (minus admin).
- Category 2 (Default): You choose 7.5%–9%, employer pays 18% (minus admin).
- Category 3: You pay at least 7%, employer pays at least 7%.
Two-Pot Retirement System (from 1 Sept 2024)
- Vested Pot: All savings before Sept 2024. You can access when you resign or retire.
- Retirement Pot: 2/3 of new contributions. Locked until retirement (55+), must buy an annuity.
- Savings Pot: 1/3 of new contributions. One withdrawal per tax year (minimum R2,000).
💡 Bonus: 10% of your vested pot (max R30,000) was added as starting seed capital in Sept 2024.
Death & Disability Insurance
You choose the level of cover. Costs are deducted from your employer contributions.
- Basic cover: 1 × salary + your savings.
- Medium cover: 2 × salary + your savings.
- High cover: 3 × salary + your savings.
- Maximum cover (Category 2 only): 5 × salary + your savings.
👉 You can reduce cover anytime or increase within 2 months of marriage/childbirth.
Funeral Benefits
Direct family members are automatically covered.
- Category 1: Up to R14,000 (you/spouse/children over 6).
- Category 2: Up to R58,000 for you/spouse, R28,500 for children.
💡 Spouses/partners must be under 75 when you join. Children are covered until 21 (or 26 if studying/unmarried/disabled).
What Happens If You Leave the Fund
- Resign before 55:
- Vested Pot: Take cash, transfer to another fund, or preserve it.
- Savings Pot: Withdraw (if you haven’t already this tax year).
- Retirement Pot: Locked until retirement.
- Retire at 55+:
- Lump sum, annuity, or a mix (depending on when the savings were made).
- Exception: If your total retirement savings are under R165,000, you can take it all in cash.
Monthly Costs (deducted from employer contributions)
- Admin: 0.5% of salary.
- Insurance: Depends on your level chosen.
- Funeral cover: 0.080% (Category 1) or 0.313% (Category 2).
- Investment + withdrawal fees: deducted from returns or savings.
Extra Benefits
- Free: Financial advice, 24/7 counselling (Emo Service), online account access.
- Discounted: Banking, lifestyle benefits, funeral services (25% off with Dune Funerals).
- Loans: Housing loans up to 60% of savings (approval required).
📞 Key Contacts
- Fund Broker: 012 555 5555
- Fund Manager: 012 555 5555
- Funeral Services (Dune): 087 555 5555
- Sanlam: 0861 555 555
👉 Click “Get in touch” and let’s chat about your needs - no obligations, no fuss.
