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What is the provident fund claims process?

Question:

I'm very disappointed,I have submitted my claim early August (Provident fund)I haven't received anything till now ,not even SMS stating you busy processing ,How does this goes?

Answer:

Nelisa, The retirement fund claims process is as follows: you need to get hold of a withdrawal notification form from your HR department, complete this and return with required supporting documents (proof of banking and ID) to your HR department, who will counter-sign and forward to the fund administrator for processing. 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), we - 10X Investments - typically pay out within 14 business days. Call us on 021 412 1010, to find out what is holding up the process, to confirm we have received all the required documents, and that there were no problems with SARS that you need to resolve.

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