I would like to know whether the one-third payout from a retirement annuity at retirement age would be protected from creditors?
Thank you for sending your question through. You have raised a very important question as it is vitally important to understand how and when your retirement fund benefits enjoy protection from ones creditors.
At the outset, please note that all monies held within a retirement fund including pension, provident and retirement annuity funds enjoy protection from creditors in terms of Section 37 of the Pension Funds Act. This piece of legislation prevents retirement benefits from being reduced, transferred or otherwise ceded, or of being pledged or hypothecated, or be liable to be attached or subjected to any…
Read the full article at: https://www.moneyweb.co.za/qa/advisor-questions/is-my-one-third-payout-from-a-ra-protected-from-creditors/