Transferring to a Pension or Provident Preservation Fund

When you leave a job, you can keep your retirement money invested by moving it to a Preservation Fund (Pension Preservation if the money came from a pension fund; Provident Preservation if it came from a provident fund).

Here’s a simple checklist of the forms and documents you and the funds will need.

• Allan Gray Pension/Provident Preservation Fund Application

  This is the main form to open your preservation account. You’ll give your personal details, tax number, which unit trusts to use, and details of the fund you’re transferring from. Minimum transfer is usually R50,000. Attach a copy of your SA ID or passport. Allan Gray may ask for extra documents if needed.

When you exit your employer fund, they usually ask you to complete a withdrawal/transfer (exit) claim form and choose “Transfer to a Preservation Fund” (you can transfer 100% or take a small cash portion subject to tax rules). Different funds use different versions of this form. Examples from major administrators show the “Transfer to Preservation/RA” option on their standard exit forms. 

Transfers from an employer pension/provident fund to a preservation fund are done under Section 14(1) of the Pension Funds Act. Most of the paperwork here is done between the funds (not by you), but it helps to know the names:

• Form A (for Section 14.1 transfers) – requested from the transferring fund once Allan Gray has your application and the fund’s documents. 

• Form H (for like-to-like transfers under Section 14.8; not usually for employer-to-preservation) – drafted by the transferring fund; Allan Gray signs and returns it. 

• Form J – proof of payment once the transfer amount is paid; both funds use it to confirm payment timing. 

After payment, the receiving fund (Allan Gray) must submit a Recognition of Transfer (ROT) to SARS to confirm the transfer was received.