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How long is thewaiting period for provident fund pay-out?
Provided your tax affairs are in order, and you have submitted all the required documents (such as a copy of your ID, a completed instruction form stating where the money should go, and proof of banking details), it normally takes 14 to 21 business days
Read moreWhat are the differences between a provident and a pension fund?
The two big differences between a pension and a provident fund relate to 1. the tax treatment of contributions and 2. the annuitisation requirement at retirement.
Read moreWhen can employees access their pension/provident fund?
On retrenchment and resignation, called a withdrawal; On retirement at retirement age (or earlier due to ill health).
Read moreGeneral
What is the difference between a provident, pension, RA and preservation fund?
All are retirement funds governed by the Pension Funds Act, but they serve different needs and purposes. Pension and provident funds are so-called workplace funds.
Read moreHow can I find out what my provident fund balance is?
If you are a 10X client, you can see this on your benefit statement, which you will find once you log into the Investor Portal.
Read moreLiving annuity
What is the difference between a preservation fund and a living annuity?
The Living Annuity is, an investment product. It transfers the risk and responsibility of securing an income for life onto your shoulders. In return, you have greater income flexibility and your heirs inherit your capital after your death.
Read moreHow is a living annuity taxed?
No tax is payable on amounts transferred into your living annuity and you do not pay tax on the investment returns you earn within your living annuity.
Read moreWho should consider using a living annuity?
Choosing between a living and a guaranteed annuity requires a careful evaluation of your personal needs, circumstances and priorities.
Read moreCan I withdraw all the funds from my living annuity?
A living annuity is a post-retirement product. One of the conditions of choosing a living annuity is that you must withdraw between 2.5% and 17.5% pa of the fund balance (at the anniversary date). You make this election once per year.
Read moreWhat is the difference between a guaranteed annuity and a living annuity?
A guaranteed annuity will provide an income that is guaranteed to last for your whole life (and your spouse’s, if applicable), but your heirs won’t be able to inherit whatever is left on your death.
Read moreWhat transfers can a living annuity accept and make?
Transfers in: A living annuity may only accept transfers from another living annuity or from a retirement fund (pension, provident, pension preservation, provident preservation or a retirement annuity fund).
Read morePreservation fund
What is the difference between a provident, pension, RA and preservation fund?
While all of these are retirement funds governed by the Pension Funds Act, they serve different purposes and have distinct characteristics.
Read moreHow can we 10X Your Future?
Begin your journey to a secure future with 10X Investments. Explore our range of retirement products designed to help you grow your wealth and achieve financial success.