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Question
Posted by: Uncertain | 2009/10/09

Provident fund pay outs

The co. my son in law works 4 retrenched some people in May of this year. Their provident fund has still not been paid out. Some of them still dont have other work + last week when they enquired about their provident fund money they were told by the fund it will take another 3 mths because of having to wait for tax clearence from SARS. Surely it cant take that long. What can these people do? Some of them are desperate now.

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Our expert says:
Expert ImageLabour lawyer

RE: PROVIDENT FUND PAY OUTS

Unfortunately Provident Fund payouts do take many, many months. The only thing you can do is to contact the administrators of the Provident Fund who can hurry this up. Unfortunately Companies do not control their own Provident Funds.

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Our users say:
Posted by: Anonymous | 2016/04/22

I was contacting through a tracing agent regarding a provident claim that was not submitted. I sent all the necessary documents she asked for and she sent everything through. After about 4 months I phoned and they said I need to send a letter from my bank to validate my account. That was done and sent through. It has been 8 months and still they just tell me they are busy with validating my banking details..... Really how long can this take a previous claim a year ago was sorted out and paid out within 1 month also done through a tracing agent and strangely enough I am still using the same bank

Reply to Anonymous
Posted by: paula | 2016/04/07

Hi I have submitted my resignation last month on the 30th I didnt serve a notice so last week they send me a letter they say they gonna deduct 1month money bcoz I didnt serve a notice so I wanted to know that what must I do from now must I wait for them to deposit funds and how long its gonna take or

Reply to paula
Posted by: Anonymous | 2015/06/02

I want to know how long gona take now my money to pay out its been finilised on 29 05 2015 pls help I need money?

Reply to Anonymous
Posted by: Anonymous | 2015/03/18

I WOULD LIKE TO FIND OUT, HOW DO I GO ABOUT CLAIMING MY PROVIDENT FUND FROM AUSTRALIA... I CURRENTLY LIVE IN SOUTH AFRICA

Reply to Anonymous
Posted by: LANCE | 2014/12/09

I HAVE BEEN WORKING 6 MONTHS IN A COMPANY AND HAVE RESIGNED AND RELOCATED I WAS TOLD MY MONEY IS WITH SARS AND I JUST WANT TO KNOW HOW LONG DOES IT TAKE TO PAY OUT

Reply to LANCE
Posted by: kennedy | 2014/12/08

i have submitted a provident claim fund with old mutual for my late wife, whereby no children in our marriage and debtors are calling for their monies owed by the late .my id ;6405065318086. and my late wifes id;6909150591085.

Reply to kennedy
Posted by: Anonymous | 2014/10/10

my provident fund was paid out three months after I resigned, now three months after they paid out I received a email saying they paid out more than they should have and I must pay the other money back. what are my rights here? what if I don't have the cash they want back from me?

Reply to Anonymous
Posted by: Anonymous | 2014/10/10

my provident fund was paid out three months after I resigned, now three months after they paid out I received a email saying they paid out more than they should have and I must pay the other money back. what are my rights here? what if I don't have the cash they want back from me?

Reply to Anonymous
Posted by: Been there | 2009/10/16

Once the authorisation is given to release your share of the fund then the persons doing the pay out must just get a tax clearence from SARS. This is only to confirm that there are no outstanding tax return forms. This clearence only takes a few days. I know, I' ve been there earlier this year. Somebody is bull& $*#ting somebody. They tried the exact same thing with me. 3-1/2 weeks after my fund managers gave authorisation to pay they kept telling my brokers that they were waitng for tax clearence. Only after I lodged a formal complaint with the ombudsman did I get paid out. These types of unnecessarry delyas are very common + in most cases entirely unnecessarry. My advice would be to go the ombudsman route. It' s a free service + well worth it. Good luck to all.

Reply to Been there
Posted by: labour lawyer | 2009/10/15

RE: PROVIDENT FUND PAY OUTS

Unfortunately Provident Fund payouts do take many, many months. The only thing you can do is to contact the administrators of the Provident Fund who can hurry this up. Unfortunately Companies do not control their own Provident Funds.

Reply to labour lawyer
Posted by: Boon | 2009/10/14

I would love to hear the reply because,my mother who is not working and very desparate has been waiting for her late husbands provident fund for 15 months now.

Reply to Boon

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