Question:
How long must I wait for my pension/provident fund, provided that I have already submitted the forms?
Answer:
John,
Provided your tax affairs are in order, and you have submitted all the required documents (such as a copy of your ID, a completed instruction form stating where the money should go, and proof of banking details), it normally takes 14 to 21 business days for the funds to be paid out at 10X. Most other administrators take a bit longer. If it takes much longer, you should follow up with the administrator to see what is holding up the process, to confirm they have received all the required documents, and that there were no problems with SARS that you need to resolve.
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. Note that the clock only starts once the administrator has received your last contribution or your instruction form, whichever is the later.
