Question:
Can I move from a provident fund to the Cape Retirement Fund?
Answer:
Romeo,
You can move your provident fund to a provident or pension preservation fund, or to your new employer's provident or pension fund. The Cape Retirement Fund fund rules permit the transfer from another scheme, subject to approval and conditions imposed by the Board of Trustees. The Rules are unclear on whether the Fund permits transfers from a provident fund (they just refer to Previous Scheme), so you would have to contact the Fund to find out. But the fact that the rules do not specifically exclude transfers from provident fund suggests that you can.
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.
