Question:
I have been waiting 9 months for the pay-out of my-ex spouse. Why does it take so long to effect a pay-out? Every time I call they tell a different story, like it's not been finalize or that they are behind.
Answer:
Anthea,
Unfortunately, we do not have insight into why some fund administrators take longer than others, to effect a pay-out. However, if you are waiting for your ex-spouse's share of the fund, you need to be sure that your divorce order complies with the Pension Funds Act and the Divorce Act. If it does not, then the administrator cannot affect the pay-out, and if you cannot rectify the problem (amend the divorce order) then you will have to claim your share of the retirement fund from your former spouse, when he exits the fund.
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.
