Preservation Fund FAQ

Can my employer refuse to process my provident fund?

I have resigned with immediate effect and am struggling with the HR department regarding notice. I have a provident fund under 10x. Can my employer refuse to process my provident fund to you for the claims? Can I just deal directly with 10x regarding the payout and bypass my employer. How soon can I do this if I decide to deal with 10x directly as I am aware that the documents required are proof of banking details as well as an ID copy.

Does a preservation fund pay a monthly salary?

I am 51 years old but thinking of quitting my job. I have been at this job for 26 years and have a retirement fund of R4,4million. If I put this into a preservation fund and take a lump-sum amount of R1,5million out - will I still be able to get monthly salary from this fund. If so, how much will I get on monthly basis.

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