South Africa Law
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Good evening Sir,
I have dealt with pension funds and provident funds before. If there is an interruption of service, and your pension is paid out, you lose a great deal. The longer your service/employment is uninterrupted, the bigger your pension will be. The fact that you still have the same Persal number is ***** no relevance unfortunately. When you started to work again after 3 months, your pension fund contributions started again at R0.00, instead of at plus minus R300,000. That is why your pension did not grow to the same extent as your co-employees'.
I know this is not the answer you wanted, but unfortunately this is the truth. What you can do, if you haven't done it yet, is to ask them for a full breakdown of the calculation of your pension payout, as well as a full breakdown of your pension payout in 2008, and then take that to an actuary or chartered accountant to verify whether their calculations have been correct. The only obstacle that I see is that an actuary or chartered accountant is going to cost a lot, but that is the only solution I have for you.
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