Question:
May a member transfer a portion of his interest in the fund to his spouse when they are divorced? If so, how should the Court Order (or Deed of Settlement) be worded?
Answer:
Gerhardt, Yes, this is possible. The divorce order will stipulate the share of the pension interest, the non-member spouse then chooses how they want to receive the benefit (as cash, or by way of a transfer into another approved retirement fund, such as a preservation fund or a retirement annuity). Please read our blog on the subject as to what the divorce order needs to say.
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.
