Day to day risk benefits are designed to protect you and your family’s income if you are injured or should you die while you are an active member of the Fund.
A portion of the employer’s contribution (10%) goes towards the various costs including risk benefits and the remainder is invested for you by the Fund.
To find out more about contributions and how they work click here
All active Members of the Fund and their immediate family members are covered by this benefit provided contributions are up to date.. Part of the money your employer contributes every month pays for this benefit.
The funeral benefit pays out if you and/or any of your immediate family members die and covers up to 6 registered spouses and up to 6 of your children.
Funeral claim payments are made within 48 hours after all documents have been received.
If you exit the Fund you will no longer be covered by or be able to claim for funeral benefits.
The scale below shows how much money you will receive for the funeral:
All active Members of the Fund are covered by this benefit provided contributions are up to date.
Part of the money your employer contributes every month pays for this benefit.
If you are disabled due to an accident or illness and you are unable to perform your own or similar occupation the disability benefit is paid.
The disability benefit is equal to 3 x your annual fund salary/wages plus your retirement fund savings (fund credit)
If you exit the Fund you will no longer be covered by or be able to claim for the disability benefit
Medical Approval
Final approval for disability claims is done by the Fund’s appointed medical provider.
All active Members of the Fund are covered by this benefit provided contributions are up to date.
Part of the money your employer contributes every month pays for this benefit.
The death benefit is equal to 3 x your annual fund salary/wages plus your retirement fund savings (fund credit)
The death benefit also includes Funeral benefits
Funeral Benefits are paid 48 hours after all documents are received.
The death benefit pays out to your dependants or beneficiaries if you die while an active member of the Fund.
Although the Trustees will try and follow the member’s wishes in terms of the beneficiary form as far as possible, the final decision of who will receive the death benefit rests with the Trustees. They are required in terms of the Pension Funds Act (Sec 37C), to ensure that all dependants are provided for.
If you exit the Fund you will no longer be covered by or be able to claim for the death benefit.
The amount that is paid out is 3 x Annual Wages / Salary
Download: Death Benefits
Download: The Importance Of Advanced Care Planning
Download: Emergency Checklist
