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Hi all,
I'm looking at receiving my pension lumpsum (non SA based pension), and I'm a little confused.
Can anyone confirm if me taking 30% of my pension at 55 years old qualifies as tax free up to R550K? This is my understanding, but my pension company is currently going through a liquidation process so that muddies the waters in terms of what/when I can get out. So with that in mind...
Can this lump sum only be taken before any 'normal' drawdowns are taken?
...And does it have to be a single transactions, or can the lump sum be made out of 2 or 3 payments?
Thanks in advance!
I'm looking at receiving my pension lumpsum (non SA based pension), and I'm a little confused.
Can anyone confirm if me taking 30% of my pension at 55 years old qualifies as tax free up to R550K? This is my understanding, but my pension company is currently going through a liquidation process so that muddies the waters in terms of what/when I can get out. So with that in mind...
Can this lump sum only be taken before any 'normal' drawdowns are taken?
...And does it have to be a single transactions, or can the lump sum be made out of 2 or 3 payments?
Thanks in advance!