Preservation Fund FAQ

What is a preservation fund?

A preservation fund is a retirement fund in terms of the Pension Funds Act. It is a tax effective investment vehicle designed for individuals who wish to invest the proceeds of their company-sponsored retirement plan in a tax-efficient manner.You may transfer the proceeds of your pension or provident fund to a preservation fund in the event you are dismissed, retrenched, or you resign. Doing so preserves both your accumulated savings and the attached tax benefits. You can invest the proceeds from different pension or...

Why can't I make a withdrawal from my pension fund?

I have invested my pension from a previous employer and I am in desperate need of the money now. I am not yet 55 years old and was told that I cannot make a withdrawal because of the rules of the transferring fund. My former employer when into liquidation and I do not understand why I cannot get access to the money now. Please advise.

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