Question:
I am currently unemployed for the last year and my husband for the last 2years we were divorced in 2010 can he claim half of my funds in my retirement annuity
Answer:
Nicky, Please refer to our blog on the subject of divorce and your retirement fund. The short answer is he can, but only if the divorce decree meets the requirements outlined in our blog. He will be entitled to his share of the pension interest. In the case of a Retirement Annuity Fund, pension interest is defined as follows: "The sum of the member's contributions to the fund up to the date of divorce plus simple annual interest at the prescribed rate. Interest as prescribed in the Prescribed Rate of Interest Act is currently 15.5%. Interest may not be more than the fund return."
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.
