introduction
OUR BACKGROUND
The SALA Pension Fund was established in March 1985 to offer a financial safety net for employees of Local Authorities. This fund was specifically designed to ensure that these workers and their families have the necessary financial support in the face of retirement, death, or health-related issues that could hinder earning ability.
When the fund was created, employees who were already participants in various other Local Government pension schemes were seamlessly integrated into the SALA Pension Fund. Importantly, these employees were granted full credit for all their previously completed years of service, ensuring that their retirement benefits reflected their entire period of employment.
Today, the SALA Pension Fund boasts a membership comprising approximately 13,000 active contributors. Additionally, the fund supports about 4,500 pensioners. The majority of its members hail from the municipal and police service sectors, illustrating the fund’s role in supporting individuals primarily dedicated to public service.
Mission
The mission of the SALA Pension Fund is to pay the benefits promised to all members in terms of the rules of the Fund as they fall due and to continuously strive for the actuarial and financial soundness of the Fund. The Fund therefore seeks to grow the assets of the Fund in real terms through a risk conscious manner taking cognisance of the existing financial and actuarial soundness of the Fund
Objective
The objective of the SALA Pension Fund shall be to provide benefits on retirement, ill-health, disability, retrenchment or death to Members of the Fund and or their Dependents.
Vision
To become the fund of choice in the entire municipal sector