Flexible Benefits When Your Employment Changes
When a member resigns, they will receive:
- A lump sum equal to the member's fund credit in the Vested pot
- The available balance in the Savings pot
The fund credit in the Retirement pot remains preserved and is used at retirement to purchase an annuity.
Retire With Confidence And Long-Term Financial Support
Members qualify for early retirement from age 55. Normal retirement takes place between ages 60 and 65, allowing members to enter retirement with structured, long-term financial support.
At retirement, member will receive:
- A gratuity equal to one-third of the member’s Fund Credit
- The remaining two-thirds must be utilized to purchase an annuity from a registered insurer, providing you with a steady income stream.
Financial Protection For Your Loved Ones
If a member passes away, beneficiaries will receive:
- A gratuity equal to three times the member's annual pensionable salary, PLUS
- The member's full Fund Credit.
Providing financial support during a difficult time.
Support When You Need It Most
If a member becomes permanently disabled, the member will receive:
- A gratuity equal to three times annual pensionable salary, PLUS
- The member's full Fund Credit.
Ensuring members have the resources needed during this challenging period.
Flexible Financing Solutions For Members
Members may access pension-backed home loans, using their withdrawal benefit as collateral security, with flexible repayment terms.
Subject to the fund’s rules and applicable requirements.
- Flexible Repayment Terms
- Withdrawal Benefit As Security
- Subject To Fund Rules
Comprehensive Funeral Cover For Members And Their Families
| Family Member | Cover Amount |
|---|---|
| Member | R 75,000.00 |
| Spouse | R 75,000.00 |
| Child older than 14 years | R 75,000.00 |
| Child older than 6 but younger than 14 years | R 37,500.00 |
| Child older than 2 but younger than 6 years | R 18,750.00 |
| Child younger than 2 years, including stillborn | R 18,750.00 |
Comprehensive Funeral Cover For Members And Their Families
Funeral cover is available for members, spouses and qualifying children, providing support when families need it most. Our funeral benefits are designed to offer financial assistance and peace of mind during difficult times, ensuring that loved ones receive the support they need.
| Family Member | Cover Amount |
|---|---|
| Member | R 75,000.00 |
| Spouse | R 75,000.00 |
| Child older than 14 years | R 75,000.00 |
| Child older than 6 but younger than 14 years | R 37,500.00 |
| Child older than 2 but younger than 6 years | R 18,750.00 |
| Child younger than 2 years, including stillborn | R 18,750.00 |