Fund Benefits

SUMMARY OF BENEFITS

• Defined Contribution Structure
• Defined Benefit Structure

Certain benefits are payable in respect of a member in the event of the following occurring:

• Resignation or Dismissal
• Retrenchment
• Death in Service
• Death after Retirement (Death of a Pensioner)
• Retirement (Early or Normal)
• Release from Liability

Insured Risk Benefits (NB only applies to active members in the fund not pensioners)

• Risk Benefits Effective 1 September 2023
• Group Life Assurance Benefit
• Family Funeral Benefit
• Family Support Benefit
• Disability – Monthly Income Benefit
• Dread Disease Benefit
• Accidental In-Hospital Benefit

The benefits vary considerably depending on the event and the circumstances of each member and THE ADMINISTRATOR needs the Municipality’s assistance in ensuring that THE ADMINISTRATOR is made aware of all circumstances in each case.

Note:
All benefits are taxable with effect from 1 March 1998.

Lump sum Retirement / Death / Monthly Income or Withdrawal benefits accruing to a member of a public sector fund as a result of service rendered prior to 1 March 1998 will be tax-free. Lump sum benefits accruing to members after 1 March 1998 will be taxable in the same way as private sector funds.

Contact Person:

Team Leader	Jean Bernhardt Fairsure Administrators
Telephone	0860 00 44 01
Facsimile	0860 00 44 02
Postal Address	PO Box 8417 ROGGEBAAI 8012

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