Retirement fund

[CyraxHB]

In the few years that I worked in the UK i got the portion of my taxes that would have gone to my retirement there, paid into a private stakeholder pension plan. The idea being that if you are not going to retire in the UK then you can take the money with you when you leave.

Now that I am back in SA I'm looking to transfer it back. The company its with will only send it to certain retirement funds in SA. I want to cash it out so am looking for advice on the most flexible retirement funds here that would allow me to cash out early.

Any advice welcome, thanks.

 

[B@rrels]

I think age 55 is the earliest you can take a retirement investment.

 

[LancelotSA]

A similar question has been asked on here before regarding UK pensions and transferring them here. What your UK company is referring to are QROPS. You can search for more info on this online. Unfortunately there are no South African RAs that will allow you to "cash in" your investment prior to age 55. It is not company specific rules, it is legislation.

There are a few circumstances under which you can access funds prior to 55 but these are disability, formal emigration (with a fund value under a certain amount for some companies), and if you make your RA paid up and the fund value is less than a certain value (R7500 currently).

 

[CyraxHB]

A similar question has been asked on here before regarding UK pensions and transferring them here. What your UK company is referring to are QROPS. You can search for more info on this online. Unfortunately there are no South African RAs that will allow you to "cash in" your investment prior to age 55. It is not company specific rules, it is legislation.

There are a few circumstances under which you can access funds prior to 55 but these are disability, formal emigration (with a fund value under a certain amount for some companies), and if you make your RA paid up and the fund value is less than a certain value (R7500 currently).

Thats a bit annoying. But thanks.