Question:
my actual retirement date would have been 2017 but due to having been found unfit to continue attain my current position i have been placed on early retirement with effect as of 30 april 2015.Is it possible that the Bidcorp group provident fund could calculate my provident fund payout to the actual retirement year 2017?Please advise by return e-mail Thankyou Regards Malcolm Marnitz
Answer:
Malcolm, Please note that we are 10X Investments, and have no association with the Bidcorp Provident Fund, so we cannot speak on their behalf. However, speaking in general terms, it is not possible to determine your payout at a future date. Your provident fund is a defined contribution fund, which means that your payout depends on the contributions invested, and the net investment return earned on those contributions. The future investment return (to 30 April 2017) is unknown, and cannot be determined in advance, so your fund balance in two years time can also not be determined in advance. Further, although you can leave your money in the fund until you choose to withdraw, you will not be able to make further contributions, as you are no longer a Bidcorp employee.
