Would I receive my fund benefit if my employment contract is terminated?


Question:

Good Day, My aunt has been working for a cleaning company for the past 13 years, The company then terminated her contract. Luckily she did find another job. What I would like to find out is there no source of cash that she has to receive from the company as she has worked for them for the past 13 years. Before I forget not even once has her employer made her sign a contract of any sort. Is this ethical?

Answer:

Zama, If she belonged/contributed to a retirement fund (ie a pension or provident fund) then she would be able to claim this on leaving her employer. However, it is not compulsory that employers off this benefit. She should check with her former employer's HR department whether the company has a retirement fund, and whether she was a member.

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.


Get investment and saving tips straight to your inbox.

Related FAQ

How do I top up my TFSA using My10X?

You can make a top-up to your 10X investment on our member portal, My10X. To access My10X visit...

Related FAQ

How do I top up my RA using My10X?

You can make a top-up to your 10X investment on our member portal, My10X. To access My10X visit http...

Calculator

How much do I need?

We can help you plan your future. Use our calculator to see if you are on track for a comfortable retirement.

RA Calculator

Get started or switch to 10X today.