Benefits
The following benefits are available to all active members of the Fund who are employed by the company and under normal retirement age. These benefits also apply to disability members who belong to the Fund and are under normal retirement age.- TFG Pensioners: Click here to see what benefits apply to you.
- Deferred Members: Click here to see what benefits apply to you.
Click on “Summary of Benefits” below for a quick overview of your benefits. You also have the option to read a detailed explanation of each benefit.
Withdrawal Benefit
(To read more click here)
You may withdraw your full Fund Value upon resignation or retrenchment from the company, provided that you are under the age of 65. The Fund Value includes all the contributions you and the company have made, plus investment returns (positive or negative). Withdrawal benefits are subject to tax. Members are strongly encouraged to preserve (save) their Fund Value in order to meet their retirement goals.
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It is also very important to remember that any amount taken as a cash withdrawal benefit will impact the tax-free portion of the amount you take as a lump sum at retirement benefit. |
Retirement Benefit
(To read more click here)
The Fund offers a monthly pension that is secured by the member's Fund Value at date of retirement. The benefit is payable for life.
Disability Benefit
(To read more click here)
The disability benefit is a monthly benefit of 75% of total guaranteed package (TGP). This benefit is subject to capping and evidence of health limits, as well as other policy conditions as determined by the insurer.
Death Benefit while in service
(To read more click here)
5 x annual pensionable pay plus Fund Value
Death Benefits are payable in accordance with section 37C of the Pension Funds Act.
Funeral Benefit
(To read more click here)
| STANDARD FUNERAL BENEFIT | Current Funeral Benefit |
Funeral Benefit with effect from 01 January 2021 |
| Member and Spouse | R25 000 | R30 000 |
| Child Age 14 – 21 | R12 500 | R15 000 |
| Child Age 6 – 13 | R5 000 | R6 000 |
| Child under Age 6 | R2 500 | R3 000 |
Additional Voluntary Funeral Benefit
(To read more click here)
The company offers an additional voluntary funeral benefit at a premium, which is payable by the employee. The premium is R19.70 per month and offers the following additional benefits:
| For a small amount of R19,70 (deducted from your salary monthly), you can increase this cover to an ADDITIONAL pay-out as follows: | Current Funeral Benefit |
Funeral Benefit with effect from 01 January 2021 |
| Member and Spouse | R15 000 | R25 000 |
| Child Age 14 – 21 | R15 000 | R15 000 |
| Child Age 6 – 13 | R7 500 | R7 500 |
| Child under Age 6 | R3 000 | R3 000 |
Related items
Quick News
Rule changes relating to your member contributions
CONTACT DETAILS
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fuse@tfg.co.za |
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To speak to an administrator |
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TFG Retirement Fund PO Box 6020 Parow East 7501 or Stanley Lewis Centre 340 Voortrekker Road Parow East 7500 |
TFG Retirement Fund - Registered under the Pension Funds Act 1956 (Reg.No 12/8/10150/2) |
- The information requested in this document may constitute personal information in terms of POPIA and may include financial information.
- The Fund may share the member’s personal information contained herein with other service providers of the Fund, such as the insurer of the risk benefits to the extent necessary to fulfil its obligations in terms of the Pension Funds Act.
- If the information is not readily provided, the Fund may have difficulties to attend to your query.
- The information will be kept confidential and processed in accordance with POPIA and will be held for a period as set out in the Fund’s Retention of Records Guide.
