More than 100 000 people have made withdrawals from the Alexander Forbes website since 1 March, causing technical issues and delaying withdrawals.
There has been a surge in two-pot pension withdrawals, causing technical issues on the Alexander Forbes website. With household consumption up by 3%, many are dipping into their two-pot pension to provide for themselves and their dependents.
Following the start of the new tax year on 1 March, those who qualify for two-pot savings have been allowed to withdraw from their retirement funds again, despite recommendations against doing so. More than 100 000 people have made withdrawals from the Alexander Forbes website, causing system delays which prevent retirement members from receiving their money.
READ MORE: You can draw from your two-pot savings again… but you probably shouldn’t
Surge in two pot claims
The swell of withdrawals has caused technical issues on the Alexander Forbes website as some retirement fund members “may experience delays when logging in or navigating the portal due to the significant increase in activity.”
Vickie Lange, the spokesperson for Solutions Enhancement at Alexander Forbes, told The Citizen that since 1 March 2026, “more than 100 000 savings pot claims have been submitted via the AF Connect member portal, with the first claim received at 00:01 on the day the new tax year commenced.”
The harsh reality
Since then, many have been unable to make withdrawals on the Alexander Forbes website. Despite recommendations made by Rob Southey from Momentum to encourage members to save their money. He explained that those who continue to withdraw reduce their chance of financial security.
READ MORE: Stealing the ‘golden years’ is despicable
Expected System Delays
When entering the website, users are notified with an alert, “Some features may be temporarily unavailable due to intermittent technical issues. We’re working to get everything back to normal as quickly as possible. Thank you for your understanding.”
Lange says that the user demand is being closely monitored, and the necessary system adjustments have been implemented to manage the higher volume of digital engagement.
Calls to Momentum and Allan Grey remained answered on Thursday morning.
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