A pension fund dedicated to Municipal Employees

The primary objective of this Fund is to service the retirement needs of the previously disadvantaged employees within local Government so as to provide the most favourable retirement benefits to employees.


Municipal Employees Pension Fund

This webpage covers certain aspects of general interest and also provides a review of the most important benefits of the fund. This webpage does not replace the official Rules of the Fund. The Rules of the Fund, financial statements and actuarial valuation reports are available on request.

Contributions

By member7.5%
By Local Authority18% - 22%

Admittance Requirements

Age: Older than 16 and younger than 65

Proof of good health: Not required

The fund credit is equal to:

Member's Contribution

PLUS Employer's ContributionLESS Admin and Risk CostPLUS Investment Return

Benefits

  • Resignation or dismissal

    Lump sum equal to Member's Fund Credit

  • Death of member

    Lump Sump equal to 4 (four) times the Member's Annual Salary

    PLUS Member's Fund Credit

  • Medical disability

    Lum Sum equal to 3 (three) times the Member's Annual Salary

    PLUS Member's Fund Credit

  • Retirement age

    65 years

Retirement on pension

  • At retirement age 65 years

    Lump Sum equal to Member's Fund Credit

    NB: Member to take maximum of 1/3 as a lump sum and 2/3 must purchase annuities

  • Deferred pension

    Member elect to keep his / her Pension in the Fund

  • Transfer between Municipal Retirement Funds

    Actuarial values can be transferred

  • Re-entries

    Resignation benefit may be refunded to the Fund

  • Housing Loans

    Collateral security

  • After care services

    Benefit Statement

    Newsletter

    Council Visits

    General Meeting

    Tracing of Beneficiaries

  • Family funeral cover

    Family life cover available on the following basis, Availbable upon death of:

    Member / PensionR40 000
    SpouseR40 000
    Children >= 14 yearsR25 000
    Children >= 6 but < 14 yearsR25 000
    Children >= 1 but < 6 yearsR10 000
    Children (under 1 year)R10 000
    StillbornR10 000

    Note: The above benefits may differ depending on a member's personal circumstances

  • Extended Funeral Cover: 25 000

    You may add a maximum of four (4) additional adults to be covered, members parents and parents in-law only. A six (6) months waiting period applies for the 4 additional adults covered