Answers to your questions

Have a question you would like answered? Email us and we may answer it. The questions here are based on ones from our readers, with identifying information removed.

Topic: Finance  |  Show questions and answers for all topics

Can I withdraw my pension fund from the savings pot while I am still working?

Yes, you can withdraw from the savings pot once a year, provided it is not less than R2.000.

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Can I loan money from my provident fund from 1 March 2024?

No, this was announced in the recent budget speech.

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What happens to my UIF and provident fund if the company I work for is liquidated?

Your UIF and provident fund money should be unaffected. How you left the company affects whether you can claim your money now.

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If a bank messes up and customers lose money, does the bank have to refund them even if they don't complain?

The Ombudsman for Banking Services has indicated that banks must rectify errors that result in losses to customers.

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Can a university report unpaid fees to a credit bureau?

It is usually debt collectors rather than universities that report unpaid debts to the credit bureau. You can check your credit status online.

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What happens to ZEP holders' bank loans if they are forced to leave SA?

Usually a person's debts remain active if they leave the country, but it is unclear what will happen if they are forced to leave, as with ZEP holders.

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How are assets redistributed if I change my marriage contract, which is in community of property?

It depends whether you shift to marriage out of community of property with or without accrual, or get divorced.

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What can I do if my employer hasn't submitted my provident fund claim forms and is avoiding me?

Send a registered letter to the Trustees of the Fund informing them of the matter.

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Can the bank demand twice the monthly repayment of a loan on an over-insured house?

The in duplum rule limits all interest and other payments on debt to double the amount of the original debt.

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Can my employer withhold my provident fund to pay outstanding debts without my permission?

No, the provident fund can only withhold your money if you owe the employer money or have been convicted in a civil/criminal case

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