Question:
I get a pension from my late first husband’s company.

If I emigrate to New Zealand will I still be able to get the pension and under what conditions if any?

Answer:
From your question it sounds like the type of fund your late husband belonged to is the type where the fund itself is responsible for providing the pension benefits on a member’s death or retirement. Each pension fund has its own set of rules that govern how it is administered and what it can or cannot do. So whether the fund itself will continue to pay you the pension should you emigrate will be determined by its rules.

Subject to the rules of the fund, if the fund has undertaken to pay your pension for the rest of your life, the pension will continue regardless of your plans to emigrate or not. The question that is important, however, is in which way you will be able to access the pension. The payment is obviously made on a monthly basis into a South African bank account. In terms of the Reserve Bank’s Exchange Control regulations, monthly pension payments that are paid by registered pension funds may be remitted offshore to an emigrant.

I would suggest you do the following:

1. Liaise with the Principle Officer at the pension fund to enquire whether you will remain eligible to receive the pension should you emigrate.

2. Should this be the case, enquire with the foreign exchange department of your bank as to the procedures involved in transferring the pension income offshore.