Question:
How long after you've been dismissed does it take for provident fund pay-out in the private security industry?
Answer:
Hi Quin,
This will depend on the efficacy and motivation of the administrator. Provided your tax affairs are in order, with 10X it normally takes 14 to 21 business days for provident fund pay-out if you have submitted all the required documents:
- a copy of your ID
- a completed instruction form stating where the money should go
- and proof of banking details.
If it is taking too long to pay out your benefit, you should follow up with the administrator to see what is holding up the process. If the administrator does not give you any joy, you should follow up with your previous HR department to ensure they follow up on this matter.
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.
