Retrenchments & Resignations
Deciding what to do with your pension or provident fund when resigning or being retrenched is a difficult decision that most people do not really think through.
Most people cash in their fund and get taxed heavily.
A smart move would be to move the money to a preservation fund. This is a safe way to preserve your money towards your retirement while getting the following benefits:
1You can choose your age of retirement for your fund.
2You are allowed to make 1 withdrawal prior to your retirement age.
3You are able to choose funds that suit your risk profile and can make up to 4 switches free per year.
4Money transferred across to a preservation fund is not taxed.
5We can potentially get you a boost to your fund value transferred.