A legal analysis of the preservation of pension benefits under the South African law

Abstract

Preservation occurs when money saved for retirement through pension, provident and preservation funds remains in those funds until the person retires, or is rolled over into another similar retirement savings vehicle without incurring taxes or penalties when a person changes jobs. This research focuses on legislative framework, preservation of pension benefits and retirement reforms. In future, retirement funds will be required to identify appropriate preservation funds for exiting members, who will be encouraged to preserve when changing jobs.