What happens to your pension when you divorce in South Africa?
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What happens to your pension when you divorce in South Africa?
The pension interests of the spouses will form part of the parties’ joint estate and the non-member spouse will be entitled to claim 50% of the pension interest of the member as at the date of the divorce. The parties may also agree to share the pension interest in a settlement agreement.
What happens to my pension fund when I divorce?
If you separate or get a divorce, any benefits under the Canada Pension Plan (CPP) can be divided after one year. You each get half of all CPP contributions you both made in each year of your relationship. This is called credit splitting. You don’t need an agreement or court order to divide your CPP credits.
Who gets retirement in divorce?
Divorce and separation decrees allow the attachment of qualified-plan assets by the ex-spouse of the plan owner if the spouse uses a Qualified Domestic Relations Order. This decree is used to divide qualified-retirement–plan assets between the owner and their current or ex-spouse or children or other dependents.
