GENERAL NOTES

1	This statement was issued for information purposes only and cannot serve as the basis for any claim against the Administrator, the Assurer or the Fund. If the statement is not in accordance with the rules of the Fund, the rules will prevail.
2	The Rules of the Fund and the most recent financial returns are open for inspection at the registered office of the Fund. Copies can be obtained, but you will have to bear the costs as described in the rules.
3	Nett contributions consist of: Member-, Employer-, plus Additional member contributions less Administration and Risk cover costs.
4	It is important to nominate beneficiary/ies, and that such nomination should be updated regularly.
5	It is also important to obtain professional financial advice before selecting a benefit at termination of membership.
6	You are entitled to lodge any complaint, in writing, as intended in the Pension Funds Act, regarding the Fund, at the Fund or employer. Your complaint must be answered in writing within 30 days. If you are dissatisfied with the answer, you can submit the complaint to the Pension Funds Adjudicator.
7	The statement is not proof of the "member's interest" of the Fund value for purpose of Section 7(8) of the Divorce Act, 1979.
8	If you fail to claim your benefit within a period of three years after it has become payable, the money will revert to the Fund, in accordance with the Prescription Act, 1969.
9	If any personal details on the statement are incorrect, or if you have any enquiries, please contact Mrs Ina van Eeden of the Fund at (012) 342 2633 or 086000 NFMW or your employer.
10	Benefits payable in event of redundancy: Member's Fund credit plus the smallest of    (a) 65 less age next birthday X 8% X Fund Credit or    (b) Fund Credit
11	In accordance with section 37D of the Pension Fund Act the outstanding balance of housing loans will be deducted from the Fund Credit at termination of service.
12	These contributions include: All additional member contributions, lump sum contributions and monthly member contributions in excess of 7,5% after March 1999 as well as transfers from which tax have already been deducted.
13	Qualifying spouse and qualifying child means the spouse and children as defined in the policy contract.

Print Document

Click to close