Question:
I have two fund transfers to consider: - One sum fund of approximately R 550 000 from a retirement (pension) fund from employer 1. - One small (R 30 000) sum from a provident fund from (interim) employer 2. I want to transfer the large sum to a provident preservation fund. Is this possible? and I'm considering having the small sum of R 30 000 paid out instead of transferring it to a second fund (I originally considered a retirement annuity). How will this withdrawals differ from other fund withdrawals in future? Thanks.
Answer:
The legislation currently does not permit the transfer from a pension to a provident preservation fund.
The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.
