Question:

How long does it take to receive the funds from your provident fund pay-out?

Answer:

Hi Fazila,

Provided your tax affairs are in order, and you have submitted all the required documents (such as a copy of your ID, a completed instruction form stating where the money should go, and proof of banking details), it normally takes 14 to 21 business days to receive your provident fund pay-out. If it takes longer, you should follow up with the administrator to see what is holding up the process. If the administrator does not give you any joy, you should follow up with your previous HR department to ensure they follow up on this matter.

For information about preserving your provident fund capital, read more here.

Or, if you would prefer, speak to a consultant about the benefits of a preservation fund.