Retirement Annuity

Can I use my retirement fund as security for a loan?

Question:

Do banks offer a loan against a divorce settlement of provident fund and, if so, which ones are in South Africa?

Answer:

The short answer is no. In terms of the Pension Funds Act, you are not allowed to pledge or cede your retirement fund, or use it as security for a loan (other than a housing-related loan, if the fund rules provide for this).

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