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.

Summary of Benefits

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.

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 basic salary plus Fund Value

Death Benefits are payable in accordance with section 37C of the Pension Funds Act.

Funeral Benefit
(To read more click here)

Member and Spouse  R25 000
Child Age 14 – 21 R12 500
Child Age 6 – 13 R5 000
Child under Age 6    R2 500


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:

Member and Spouse  R15 000
Child Age 14 – 21 R15 000
Child Age 6 – 13 R7 500
Child under Age 6 R3 000

 



 

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