18 Jul What can cause delays in a pension fund withdrawal payout?
- All fields on the withdrawal form are not completed with the correct information. As you can imagine, the fund administrator can only process a complete and accurate claim form. Talk to your HR department to help you to get it right the first time and avoid frustration.
- We are obliged to get a tax directive from SARS.
- If your tax affairs are not in order.
- Any discrepancy between the name on the withdrawal document and the name provided to the fund administrator.
- There may be divorce orders, maintenance orders or employer debt which must be examined and managed.
To safeguard your interests, there are several important and binding Acts and Regulations which legislate the way that Salt Employee Benefits and your Employer manage and process claims. When completing a claim document, ask your HR department to assist you to complete the forms correctly and answer your questions. We also have a client contact service to assist you further.