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Is my pension taxed when transferring from one fund to another?

Posted 29 October 2015 under Tax Questions



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John says:
29 October 2015 at 13:06

I changed jobs and requested that my pension be transferred from the previous fund to the new fund. This was done, but the old fund was taxed. I did not withdraw any of the money, so I am inquiring if I should have been taxed or can SARS provide me with a refund?

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TaxTimTaxTim says:
29 October 2015 at 13:11

Did you transfer it to a pension preservation fund?


John says:
29 October 2015 at 14:03

I am not sure. It is the retirement fund to which the company deposits my monthly pension contributions to and the fund is managed by Alexander Forbes.


TaxTimTaxTim says:
29 October 2015 at 14:14

It is only tax free if you are transferring from the same type of fund to a preservation fund of the same type. You would need to check with Alexander Forbes.


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