Question
I resigned from my company on the 15th of March, is it right for my previous employers to only submit my claim on the 12th of April, almost one month later? I was under the impression it is submitted when I leave the company. Almost a month has passed and only now has the process started.
Answer
The pay-out process starts once the fund administrator has receivedboth your final contribution and the fully completed withdrawal forms. Ifyou resigned mid-month, the fund would only receive your last contributionaround month's end, so the deal is not as long as you imagine. Assumingyour tax affairs are in order, a pay-out usually takes around 4-8 weeksfrom that point. If you belong to an industry (bargaining council fund)then there is usually a mandatory waiting period which can be up to sixmonths long.
