FAQ
The death benefit explained
My husband worked at this company for seven years and recently died of cancer. I would like to know how the pay-out process regarding his death benefit works. I received a text from my bank saying that a certain amount has been deposited into my account, but have not heard a word from Alexander Forbes explaining to me what the amount is for. I have five kids that were dependent on their dad and are all still young. Could someone please assist me.
What is a Corporate Selection Retirement Fund 2?
Hi, please can you help me. I am employ at Reavaya. We joined a Liberty Provident Fund Scheme about two weeks ago. The company (Piotrans) that administers our payroll issued a paper that they considered as a statement. This paper contained the scheme and membership number, but what is confusing is that the paper mentions a Corporate Selection Retirement Fund 2 instead of a provident fund? Please can you clarify.
Can I withdraw all the funds from my living annuity?
I have money invested in a living annuity, but some problems have arrived and I need money for my daughter's university and for myself. Is there an option to get my money out of such a fund (I am now 56 years old)? Can you please give me some advice. Thank you.
What is the pension fund pay-out timeframe after dismissal or retrenchment?
How long does it take for a person to receive their pension fund pay-out after dismissal or retrenchment?
How do I determine my total cost to company?
I receive a salary of which 60% of the total cost to company is considered retirement funding income. Of this 60%, 7.5% goes to a pension fund as employee contribution, and 12.5% goes to the pension fund as employer contribution. Ignoring bonuses and other income, I thought that 40% of my total cost to company would be considered non-retirement funding income, of which I could contribute 15% to my retirement annuity. However, on my tax certificate, my non-retirement funding income is calculated as 40% of cost-to-co...
