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Business
Should I resign or retire early from my pension fund?
If you retire early due to ill health from a pension fund, you will be compelled to buy an annuity with two-thirds, but you will pay less tax on the one-third cash lump sum than if you resign.
Read moreHow long does provident fund payout take if my employer is being liquidated?
If the company's liquidation resulted in the provident fund also being wound up, it can take quite a while before you receive the payout, possibly six months or longer.
Read moreHow will my provident fund pay-out be taxed?
Only the amount above R22 500 will be taxed at 18%; the first R22 500 will be paid out tax free (assuming she has not previously withdrawn from a retirement fund).
Read moreHow will my provident fund deduction affect my tax refund?
Any provident contributions that were made in your name (rather than your employer's) do not qualify for a tax deduction this year (ie you will not get a refund), but will be returned to you tax free when you withdraw from the fund
Read moreIs my employer investing my provident fund contributions?
We have no way of knowing or finding out whether your contributions are invested in your provident fund.
Read moreWhat is a Corporate Selection Retirement Fund 2?
The Corporate Selection Retirement Fund 2 is the formal name of an umbrella provident fund underwritten by the Liberty Group.
Read moreGeneral
Can I lend money from my pension fund?
You can only lend money from your pension fund for very specific purposes (essentially housing-related, as contemplated by s19(5) of the Pension Funds Act) and only if this is permitted by your general and/or special fund rules.
Read moreHow long does SARS take to complete taxation on my pension?
It normally takes 14 to 21 business days for the funds to be paid out
Read moreIs it illegal for employers not to pay over pension fund contributions?
No, this is not allowed, in fact it is a very serious offense not to pay over pension fund contributions, for which the directors of your husband's company will be criminally prosecuted.
Read moreIs it possible for me to take out a loan against my provident fund?
It is possible but only if the loan is for housing-related purposes per s19(5)
Read moreHow do I reactivate a deceased member's tax number?
You need to reactive your late father's tax number, so that they can issue a tax directive on his death benefit pay-out. To do so, you will probably have to go into a SARS branch, explain the situation, and bring the necessary supporting documents
Read moreThe death benefit explained
The death benefit is usually made up of two parts: the retirement investment and the life insurance pay-out.
Read moreRetirement annuity
What happens to the balance of an RA fund upon death?
This depends on the type of pension (annuity) your husband bought.
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