Will being fired affect my provident fund pay-out?


Question:

Hi, I am 60 years old and things are not well at work, I work overtime and public holidays without payment. If I got fired for not wanting to work overtime without pay can it affect my current provident payout?

Answer:

Danie, Your provident fund benefit is your fund credit, which is made up of total contributions invested in the fund, plus the net investment return earned by those contributions. Irrespective of whether you retire, resign, or you are retrenched or fired, you are still entitled to the fund credit. So being fired will not affect your fund pay-out. Learn more about the deductions that are allowed from your pension fund payout.  

The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.


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