Around R20 billion of pension fund assets remains unclaimed by an estimated 3.5 million pension fund members or their beneficiaries. This is according to the Financial Services Board (FSB) which recently held a round-table discussion to address the...
Debt is the main reason people withdraw their retirement benefits when changing jobs, according to key findings of the 2015 Sanlam Benchmark Survey, a comprehensive annual review of South Africa’s retirement industry. After interviewing thousands...
The phased reform of South Africa's retirement sector may have a far-reaching impact on retirees – especially those who have not recently assessed their strategy. While many of the mooted retirement reforms will only be implemented next year, one...
The continued mass resignations and cashing-in of pension funds by employees belonging to the Government Employees Pension Fund is a concern that has been highlighted widely. The biggest risk in withdrawing your pension fund is the issue of...
If you cashed your pension in to pay off your bond make sure you replace it over time. Sego writes: I have R100 000 from my pension fund which I cashed out last year. I am 30 years old and have a retirement annuity which I took out recently. Should...
Setting the record straight in terms of how the government's proposed retirement reforms will affect you. Over the last few weeks vested interests have tried to create fear and confusion around the proposed retirement reform. Between unions flexing...
“I am about to change company and will receive R157 000 between my pension and provident fund. After tax I should receive R130 000. I have bank loans along with my wife of about R70 000, and we also want to renovate our kitchen and bedroom. What do...
More than three million South Africans are owed more than R45 billion in unpaid benefits from retirement funds they have left already, according to unclaimedbenefits.co.za. In many cases when leaving a company, employees may not be aware of funds...
David Elliott of Marriott Asset Management explains how to choose between a preservation fund and a new employer’s pension fund when moving jobs When you change jobs, you receive a pension pay-out, but the best thing to do with these funds is to...
A reader recently wrote to City Press to question how his late wife’s pension benefit had been distributed and whether it was in accordance with the law. It raises some interesting points about the provision of the law and the role of...
