Question:
How long does it take for a person to receive their pension fund pay-out after dismissal or retrenchment?
Answer:
Sarah,
Provided your tax affairs are in order, and you have submitted all the required documents (such as a copy of your ID, a completed instruction form stating where the money should go, and proof of banking details), it normally takes 14 to 21 business days for the funds to be paid out. If it takes longer, you should follow up with the administrator to see what is holding up the process. If the administrator does not give you any joy, you should follow up with your previous HR department to ensure they follow up on this matter.
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.
