What are my legal rights with a provident fund?

What are my legal rights with a provident fund?

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Please advise what are my legal rights.  My previous company has deducted my monthly provident fund deduction for April and May.  They have not paid this over to the company holding the provident fund.  I would like to withdraw my funds, now I have to wait for them to pay over and not sure when.  I looked at my statement and saw that this is a trend of them paying late.

Unfortunately there is not enough detail to enable an informed response. However, we can provide some suggestions that could help you resolve this issue.

It appears that you left your previous employer at the end of May. That is less than a month ago and the reality is that it can take the administrator of a pension or provident fund several weeks to reconcile and process payments received from employers, apply for a tax directive and then process any benefit payments.

One of the first things you could do is to contact the HR department of your previous employer for assistance and also to obtain the contact details of the Principal Officer of your fund, whom you can approach for assistance.

If you do not get satisfactory help from the Principal Officer of your fund you can request that you are provided with details of the formal complaints procedure of the fund. Failing this you can approach the Pension Funds Adjudicator.

Expert_Association-for-Savings-and-Investment-South-Africa-

 

This question was answered by the Association for Savings and Investment South Africa (ASISA)

 

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