How much tax do you save by investing into an RA? What is the tax bill when you cash out? Why is it a bad idea to use your pension to settle your debts? If you’re thinking about cashing in your retirement fund or starting one, listen to Maya (@mayaonmoney) and Mapalo (@womanandfinance) as they answer reader questions.
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Hi Maya. I am goign to resign at the end of the year because I am to work abroad next year. I currently work for the government. I am not planning to cash in my pension (worked for 7years) but would like to know what other pension schemes I can transfer my pension to? Thank you. Michelle
You would need to transfer to a preservation fund. Most of the providers of investments offer a preservation option but watch the costs! All unit trust companies like Marriott, Allan Gray, Investec etc, most of the low fee tracker options 10X, Satrix etc