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Transfer of benefits from one fund to another

Posted 24 May 2015 under Tax Q&A


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Eric says:
13 May 2015 at 19:25

I resigned from my previous employer in 2006 and defer my pension at ABC Pension Fund. I join a new employer and contributed to their pension fund, XYZ Pension Fund. I am now 56 years old and want to resign from my current employer to do voluntary community work. Can the withdrawal benefit from XYZ Pension Fund be transferred to my deferred pension at ABC Pension Fund tax-free, as I don't want to go on retirement before I am 60.

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TaxTim TaxTim says:
15 May 2015 at 17:43

If you are transferring from funds to preservation funds then yes it will transfer across tax free.


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