In theory, it doesn’t. But that money will be transferred to an unclaimed benefit fund when the time comes, and the rules of the fund may stipulate that the amount be written back after a certain period of time (the Treasury wants to ban this But you can still claim your money. The biggest problem is figuring out who controls the pension fund that holds your provident fund. Over time, this information may be lost as previous employers disappear (company closes or is acquired by another company), fund managers merge or change names, etc. and the information can no longer be tracked.
Can I still claim my provident fund if my job is terminated?
The Provident Fund amount shown in your most recent earnings report is yours (even if your employer has paid all contributions). Whether you cancel, cancel, or cancel, the money is yours and you can redeem it or transfer it to another register. Transfers to other funds are not taxed, but cashings are taxed according to the fixed withdrawal tax rate table. The first R22 500 is paid tax-free.