Retirement tax changes planned for South African expats Subscribe National Treasury has confirmed it is looking to make retirement and tax changes for people who emigrate from South Africa. The proposed changes relate to the cashing out of retirement savings when leaving the country, and when specific taxes are applied. As the tax laws currently stand, a retirement fund member who cashes out their retirement savings and emigrates from South Africa – and is thus no longer tax resident – is subject to tax in South Africa using the If the member defers accessing the funds until after they actually retire, they are only subject to retirement tax at that stage.