At retirement, if you have worked in a corporate company, you will be part of the companies group pension fund or other retirement saving mechanism. The employee, as well as the employer make a contribution to the pension fund for the benefit of the employee subject...
The maintenance act in South Africa makes allowance for a retirement benefit to be split in a divorce. There are only 3 Acts which make it possible for a court to rule on the division of a pension benefit, the Maintenance Act, the income tax act and pension funds act,...
We are often asked if a fund member can borrow from the fund that they contribute to or use the fund as security against a loan from a financial institution. You cannot use your fund as security under any circumstances. This is specifically laid out in the Pension...
In certain cases it may be difficult for a person to deal with the paperwork, submit applications/forms correctly and in the right manner in order for an application for surplus funds or other claim against an insurance company/fund administrator. In circumstances...
There are around 17 000 people out there who are entitled to a piece of the unclaimed benefits fund from the GEPF (Government Employees Pension Fund) so if you have worked for the Government or had a family member (deceased or living) that once worked for the...
We receive a number of emails and contacts from people who were contacted by either unclaimedbenefits.co.za or datafactory.co.za asking us to assist with any unclaimed benefits claims. Dont be scammed, read this post before engaging with a tracing agency >> Can...
When we start working and and saving towards our retirement, most don't pay much attention to what is being offered, what will be required at the time of retirement or how much we need in order to retire. Your financial adviser will typically show you hypothetical...
People change jobs and move from one company to another for various reasons and each company move requires you to manage your pension fund or provident fund but what are the implications when you change jobs before retirement age and what is the best way to ensure that your tax liability is minimised.
Claiming your share of Surplus Pension Funds Featured Articles, Pension funds | 643 comments We are contacted almost every day by people who wish to claim any pension fund surplus that is owing to them and here we outline the procedure that needs to be followed...
There has been a lot of activity regarding surplus fund payments in recent months, the Mitchell Cotts pension fund being one ofe the funds whose redistribution is almost complete. There are currently another seven Pension Funds whose funds were stripped in the early...
The South African Government is becoming more and more aware of the fact that hundreds of South Africans are unable to support themselves when they reach retirement. Basic needs, such as housing and safety, become virtually impossible to gain access to and many are...
From day-to-day we all hear about pension funds and provident funds however, do we really know what these are and what the underlying fundamental differences are between them so that when deciding upon a retirement fund which one should be taken out? A pension fund...
Financial planning is a responsible and effective way to reach your financial goals, it gives you the freedom and security to plan for the future. Listed below are 4 reasons financial planning is important. Know your worth: What assets and liabilities do you have and...
There's a lot of talk about pensions being important, and how to make the most of your finances after you retire, but you may still be unclear in exactly why you'll need one. Here's a brief overview of exactly why paying into a pension plan can prove essential....
People in South Africa are getting a little panicky about calls for Nationalization of mines and banks and with the recent ratings downgrade of South Africa this is becoming more of an issue. Retirement Fund managers are finding themselves in a quandry with investors...
When we find ourselves in in difficukt financial circumstances we often do not take the time to consider the implications of cashing in our retirement savings. The need to cover our expenses and maintain our lifestyle is often a very strong motivation to cash in...
The stripping of surplus funds from a number of South Africa's pension funds in the 1990's started a storm that has taken up until now to sort out and has seen high profile businessmen receive suspended sentences and fines for their part in the surplus fund stripping....
For those of you who took advantage of the ability to have numerous retirement income streams from different annuities or pension funds managed by different companies in order to have each taxed with the applicable rebate, you need to be aware that your income will...
Updated October 2026: When you retire or leave an employer, the money in your pension or provident fund has to go somewhere. The choice you make decides how much tax you pay, how much cash you can reach, and how long your income lasts. The rules changed in 2021 and...
There comes a time in life when you have to retire from active life and bid adieu to a regular job and income. Retirement is inevitable to all working people and it pays a lot to foresee a future where you will have to rely upon your savings to lead a comfortable...
When you consider your retirement funding and read the pension fund plan provided by the company you work for, you may be initially quite relieved to read that your retirement savings are designed to cover 80% of your salary at retirement. What you really need to look...
The Professional provident society is a unique retirement product for graduates that have at least a 4 year degree or 2 degrees that combined have 4 or more years of study. The application requirements to join this exclusive retirement benefit product also include...
Possibly the last thing people consider when going through the emotional trauma of a divorce is how it will effect their retirement planning. The reality after recent legislation changes are that a non member ex spouse is able to enjoy the growth benefits and is...
There are various bodies that either govern the manner in which retirement and pension funds are administrated with the aim of protecting the contributions. These bodies are there to protect you as a contributor to a fund and to govern the manner in which fund...