Provident fund

Question ID: 39525

I require a ruling w.r.t Provident Fund

My question is two fold:

1) What portion of the “payout” is permissable to use and what precautions must one take to ensure that the money is permissable to use

2) The company has advised that I have 4 options w.r.t my withdrawal

a) transfer “my” benefit to a Preservation Provident Fund (eg Oasis)

b) transfer “my” benefit to the new Employer’s Provident Fund

c) transfer “my” benefit to a Retirement Annuity

d) withdraw all proceeds in cash (tax implication) Please do guide me in this decision?

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Asked on January 1, 1970 12:00 am
Private answer

All permissible, If you are not wealthy the entire pay out is yours.

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Answered on January 1, 1970 12:00 am