Question:
Good day, I want to know can I borrow money from my pension fund?
Answer:
Derrick,
You can if your specific fund rules permit this,and if the loan is for a purpose envisaged by s19(5) of the Pension Funds Act (essentially housing-related). You can't borrow money to pay off your debt or buy a car.
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.
