Is my pension taxed when transferring from one fund to another?
By Evan Robinson · Updated
I changed jobs and requested that my pension be transferred from the previous fund to the new fund. This was done, but the old fund was taxed. I did not withdraw any of the money, so I am inquiring if I should have been taxed or can SARS provide me with a refund?
Did you transfer it to a pension preservation fund?
I am not sure. It is the retirement fund to which the company deposits my monthly pension contributions to and the fund is managed by Alexander Forbes.
It is only tax free if you are transferring from the same type of fund to a preservation fund of the same type. You would need to check with Alexander Forbes.