Does anyone have any idea on what the Provident Fund is up to in South Africa?

Question

I just got a call from the Provident Fund of a company I worked for almost 15 years ago. They didn't give any details over the phone, but said I needed to fill in some forms that they'll mail me and I gotta mail it back. Sounded serious. I already got some money from this company back then. Interestingly enough, I just read something about the Provident Fund two days ago on the internet, but can't find the article now. Any ideas what I'm supposed to fill in? Or why? I haven't had any contact with these people since I left 15 years ago. I now live in Korea.

Anonymous · Accepted Answer

I don't know Porgie, wish you can contact Jurgen Boyd Deputy Registrar of the Pensions Funds directly, he also brought the case to court, how did your provident fund work when you resigned? usually you have to transfer it to another provident fund otherwise you get taxed on the money when you resign? did they pay you out a lumpsum and then you paid tax on it? I think the curator is checking who are beneficiaries and who are not, remember if it gets liquidated you will be a creditor with a claim, depending on how much money they have left you might be offered say for eg R 5, 00 for every R 10, 00 they owe you. If I was you I will wait till you get the forms and read them or better still mail this person and ask her more details. Perhaps you might still score something? Was the Provident fund suppose to pay out when you were 60?

Darth Vader · Answer

http://www.fin24.com/articles/default/display_article.aspx?ArticleId=1518-24_2111741
Sounds like they are in trouble. Don't give them bank details, they might just rob you.

Does anyone have any idea on what the Provident Fund is up to in South Africa?

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