Can I Transfer My Pension Fund To My New Employer?

We cannot offer you a particular answer (advice) with out doing a full wants evaluation. In caseyour money was in a pension fund and your new employer has a provident fund, then you definitelycan not move that money across with out paying tax thereon, which may not be what you want atthis stage. If you can be shifting from a provident to a another provident fund or to a pension fund,then you may transfer free of tax. By conserving it in a pension or provident fund, you can not entryit until you permit your new employer. But in case you stay with your new employertill retirement age, then you may be bound by the tax legal guidelines as to the way youaccess that money (with a pension fund, you could use two-thirds to buy an annuity, you canwithdraw a provident fund fully as a cash lump sum).

With a preservation fund, you've the right to do one full or partial withdrawal earlier thanretirement; this means you retain the option to take a cash lump sum until the time you reach yourregular retirement age (at which point, you will also have to purchase a annuity in case you protectthough a pension preservation fund). So your choice of new employer fund and preservation fundboils down mainly to issues of relative charges and adaptability.

I left my previous employer in 2006, however defer my pension with ABC Pension Fund. Can I switchmy withdrawal benefits from XYZ to ABC tax free, as I don't need to retire and receive a monthlypension earlier than I'm 60. Presently we are contributing to a provident fund and after we transferto DHET we've to contribute to GEPF which is a pension. Indirectly, yes, you need to use yourprovident fund steadiness to buy further service years� with the GEPF. You will need to then get acertificates from the brand new administrator, proving they obtained the transfer.

Buy you've different choices, ie you can transfer yourprovident fund tax-free to a provident preservation fund. Youshould investigate this selection and examine this to the value

transfer pension fund of the GEPF benefit before you make your resolution. However if you transferyour retirement annuity from one service provider (administrator, not broker!), you might even see atax cost in your tax return.

I left my previous employer in 2006, but defer my pension with ABC Pension Fund. Can I switch mywithdrawal benefits from XYZ to ABC tax free, as I do not want to retire and receive a month-t--month pension before I am 60. Presently we're contributing to a provident fund and once wetransfer to DHET we have to contribute to GEPF which is a pension. Not directly, sure, you need touse your provident fund stability to purchase additional service years� with the GEPF. You need tothen get a certificates from the brand new administrator, proving they obtained the switch.