Important check list 1 On withdrawal from your pension / provident fund.

Will you get the employer's contribution, plus the growth, or only your share? 2 You could have a conversion option on your group life assurance (GLA). The GLA is the life cover from the company's pension / provident fund that would be paid out to your dependants or beneficiaries on your death. This cover can be continued if you leave the company but the option to continue must be exercised within 30 days of your departure. Normally the only medical test required is an HIV test. You would then pay the premium on your new life policy. 3 Deferred compensation must be ceded to your new employer, as it is a company owned policy. This means that only a company will get a tax deduction on the contributions. 4 A withdrawal form must be completed for the pension / provident fund and this must be signed by your human resources manager. 5 The transfer from the pension / provident fund can take up to three months, this is totally dependent on the rules and the cash flow of the fund. 6 If you are taking the cash option your tax returns must be up to date with the Receiver of Revenue. 7 Don't take any money from your pension / provident fund to pay back any payment to the old pension fund (housing loans etc) as this would be your one and only withdrawal. Rather have the option to make a withdrawal from your preservation fund at a later stage. 8 Find out when the pension / provident funds final investment returns are distributed. Your "actuarial value" (also known as the liability of the fund) and the fund surplus, if any, should be known.