The Transport Sector Retirement Fund provides members with a means to save for a comfortable retirement, and also gives you access to risk benefits that include death, disability and funeral benefits.
The benefits of joining the Fund include:
- Competitive member benefits the Fund’s innovative self-insurance approach allows it to reinvest surpluses back into the Fund. All the proceeds of the Fund’s activities are reinvested, ultimately benefiting the current 70 000 members’ retirement savings.
- Death and disability benefits of 3 times the member's salary in addition to the fund credit.
- Family funeral cover of R 60,000 for the member and spouse and benefits on a sliding scale for the whole family, plus the added benefit of the repatriation of mortal remains.
- Award-winning member communication: The Fund received a Best Practice Award for Stakeholder Engagement from the IRFA (for the 8th year in a row). Member communication is done via SMS link to members' cell phones (newsletter, newsflashes, videos) and regular updates on the Fund’s website and Facebook page.
- Walk-in service centres for members and employers located in Durban, Cape Town, Johannesburg and Midrand.
- On-line benefits counselling tool that not only guides members in their choices at retirement but also provides access via WhatsApp to member benefit statements.
- R 8.2 billion under management invested in the Fund's well designed and diversified life stage investment strategy that is designed to protect members' fund savings as they approach retirement.
- Effective Section 13A compliance ensuring that contributions are effectively and efficiently collected from participating employers and allocated to members.
- Impact investing is an initiative which the Fund has aggressively implemented in its investment strategy. TSRF invests in projects and mechanisms which optimise financial, social and environmental returns. This goal is achieved through the Fund's Impact Investment projects in the following industries: township development, property in the form of retail and office space, agriculture, promoting the empowerment of African women, Truckstop’s for its members, manufacturing and old age homes.
Who is eligible to join the fund?
The Transport Sector Retirement Fund (TSRF) is an award-winning umbrella fund that is open to all employers in the transport industry. The Fund's single-minded drive to benefit members, as its shareholders, informs the Fund's investment and transformation agenda.
Best Practice Awards
Over the past couple of years the Transport Sector Retirement Fund has received top honours in different categories at the annual IRFA Best Practice Awards.
In 2019, 2020 and 2021 the Institute of Retirement Funds (IRFA) recognised the Transport Sector Retirement Fund as an innovative leader in the industry.
The Fund meets all the criteria in the following areas of excellence: governance; transformation; stakeholder engagement and education; investment practice, trustee development; and financial management and reporting.
2022 IRFA Lwela Ukwenza Kahle Awards - Recognising Excellence
The Institute of Retirement Funds Africa (IRFA) annually hosts a Best Practice Awards programme for retirement funds to showcase the initiatives, engagements and projects they embarked on during the year.
The awards programme has certainly developed considerably since starting out as an incentive for recognising retirement fund communication practices over 35 years ago, to now cover compliance, innovation and excellence in 6 essential focus areas of retirement fund operation. The focus areas now include stakeholder engagement, transformation, trustee development, financial management, financial reporting, governance and investment practice.
The Transport Sector Retirement Fund was recognised for their continuous efforts. The Fund received a total of three awards in areas where the Fund excelled:
Bronze Certificate - Main Entry
Innovation Award - Transformation
Innovation Award - Stakeholder Engagement
This is the 9th year in a row that the Fund has been recognised by its peers as a innovator and leader in the industry. In winning two of the four innovation awards, the Fund has once again shown that it is one of the best funds in the industry. This achievement is testament to the ongoing dedication and hard work of the Board of Trustees, its sub-committees and fund officials.
Awards Through the Years
The Institute of Retirement Funds Africa (IRFA) is a non- political body which represents and promotes the interests of the retirement industry in Southern Africa, to the ultimate benefit of the members of retirement funds.
In order to encourage retirement funds to communicate with their members the IRFA instituted an annual communication competition to recognise and reward excellence in retirement fund communication. The competition was started in the 80s and since then the emphasis has moved from recognition of communication to rewarding funds for world-class communication efforts that empower members to truly understand the workings of their retirement fund.
Over the past couple of years the Transport Sector Retirement Fund has received top honours in different categories at the annual IRFA Communication Awards.
