Butler says divorced women also need to be aware of the options available to them. In many cases, women may be entitled to a share of their ex-husband?s retirement fund as part of their Settlement Agreement. Prior to 13 September 2007, this divorce benefit could only be claimed when the member of the fund retired, withdrew or died. In many cases, the divorce benefit had been eroded by inflation by this time as it did not earn any investment return in the interim.

Since 13 September 2007, divorced spouses have been able to claim their share immediately. People divorced prior to this date can also claim their money now as opposed to waiting for the member to leave the fund.

This benefit can be sizeable and can compensate women for their career breaks. Women who are entitled to a share of their ex-husband?s retirement fund benefit but who haven?t claimed their money should do so immediately by contacting the administrator of the fund. This will prevent inflation from eroding the benefit.

"Women should seriously consider investing this lump sum in their own pension or provident fund or moving the amount to a preservation pension or provident fund," concludes Butler.