What percentage should I claim from my spouses pension fund?

01/04/2016 17:05

 

If you are married ANC with the accrual system, then it is easy to assume that you can claim 50% of your spouse's pension fund.

The Divorce Act states that you are entitled to 50% of the combined estate with the above marriage regime, BUT the act does not state from which assets you should claim. Let's assume your estate is made up of a pension value of R2million and other assets worth R3 million, then you are entitled to R2.5 million.

Should you both agree then you can stipulate in your settlement agreement that you claim 100% of the pension fund and R500k from the other assets. Make sure you mention the 100% as well as the name of the fund. (Keep in mind that tax will be deducted should you take the benefit in cash.)

So the opposite will then also be true, that you can claim less for example 40% if you receive your share from other assets, like cash or properties.

 

Contact : info@divorcesmart.co.za