Posted by: Confused | 2009-01-08

not allowed to work

I recently retired from work (2 yrs earlier) + have asked that my provident fund pay the first R300000.00 tax free amount in cash - into a money market a/c while the rest will b used 2 buy a living annuity. The boss made it quite clear that if I go 4 this option I will not b allowed 2 work again. I' ve asked numerous people including people at SARS and get the same reply from everybody - ' there is no such thing" . The other day when I went to have certain forms signed the boss again stressed that point. Even the guy at our fund managers office tells the same story. What could their motive be or is there such a rule somewhere?

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Our expert says:
Expert ImageLabour lawyer


It is suggested that you look at the rules of the Provident Fund carefully. I do not believe that they can stop you from working, you need an expert to look into it.

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