I need help with my preservation fund mo...

Asked by Anonymous on 25-04-2021 17:24:21
Question posted in the Insurance Law category relating to Gauteng

I need help with my preservation fund money from Sanlam, I am unemployed with debts and my house going to be repossessed. So I called Sanlam wanting to withdraw my money and they told me I cannot I have to be 55yrs of age, unfortunately I am 52 years old. I have worked so hard for that money and now I must be homeless and no food to put on the table because of Sanlam. Please I need help with this matter. 

Answer to the Question

Posted by Att. Patrick on 26-04-2021 13:14:18

Hi there,

I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment.

Unfortunately, in terms of the Pensions Funds Act, you can only access those funds when you retire. This is partly to protect you from yourself, to ensure that you don't spend the money on gambling before you retire. Unfortunately, in your situation, the law is having unintended consequences.

Att. Patrick 

Please remember this is a dialog if you have follow-up questions please make the required payment, then use the REPLY button and ask your further question. I would like to continue assisting you, but I need to concentrate on people who make payments for their questions.

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