Pension bridging, the ideal provident bridging fund

Pension loans – The retirement and pension system in many countries around the world and in particular South Africa is governed by the legislative framework of the country. The legal administrative procedure involved in disbursing pension and retirement and which needs to be followed implies that  pension and retirement payments are not released with the immediacy that many people would prefer. This delay in accessing these funds quite often puts financial pressure on many individuals and families. The establishment of Pension bridging has provided the much-needed relief.

Pension bridging provides for individuals who have retired, resigned, been retrenched or have been dismissed and are waiting for the separation package to be paid out. Pension bridging allows individuals to get 10% up to a maximum of R32,000 of the net pension, retirement fund or provident fund due to them as a loan. Some of these loans are based on a daily repayment rate and others are on a monthly basis depending on the size of the loan, the duration, the assessed credit risk and the different pension funds or provident funds. Clients are also liable for the admin fee to set up the process and the monthly interest charge which is shown on the final contract presented to the client.

To qualify for this finance, a prospective client needs to have an ID, 2 month current bank statement, a latest payslip, pension or provident fund benefit statement, letter from employer confirming and accepting severance package, letter of appointment with new company if a new job offer has been taken up and a divorce settlement may be requested where necessary.

Pension bridging can be contacted on 0866033843.