Options at retirement

As a member of the TFG retirement fund, you will have the following options at retirement:

A full monthly pension (no lump sum); or
A part or 100% of your entire vested benefit and up to ⅓ of your non-vested benefit may be taken in cash. The balance of the non-vested portion, may be used to calculate a monthly pension payable by the Fund; or may be transferred to another approved Fund (Life or Living Annuity only); or a combination of the aforementioned.

The full Fund Value may be transferred to an approved fund (Life or Living Annuity only); to purchase a compulsory non-commutable pension or transferred to a Retirement Annuity or Preservation Pension Fund. Should you elect to transfer to a Retirement Annuity or Preservation Pension Fund, your full fund value must be transferred and you may not take part in cash. Once payment has been made to the insurer, the Fund will have no further liability to you or your dependants; or

The full vested and non-vested benefit Fund value may be taken in cash if the amount is less than R247 500. The amount of R247 500 is a legislated amount and may change from time to time.

You may defer your retirement decision to a later date and become a Deferred Retiree in the Fund.

Should you have any questions regarding any of the options above, you are welcome to contact the fund.

16 Feb 2021
TFG Retirement Fund

Rule changes relating to your member contributions
Contribute more to your retirement
16 May 2017
Pay less tax by making Additional Voluntary Contributions to your retirement Fund.
Update your Nomination of Beneficiary form
21 Nov 2016
Find out how to nominate your beneficiaries.