A member may choose to retire if he/she has at least completed five years of continuous service with the employer and must be between 55 years and 65 years.

This is when a member chooses to retire on the first day of the month following or coinciding with his/ her 65th birthday.

This is when a member continues in service for a further period but not beyond his 70th birthday.

This is when a member retires due to medical grounds having been certified by a medical doctor that he is no longer fit to perform his duties with the consent of his employer.

In the event of a retrenchment, members are paid out immediately both employer and employee contributions plus the bonuses declared. The benefit is subject to tax as outlined by law from time to time.

In the event of a member withdrawing from service, he/she can cash in employee contributions subject to tax and the employer contributions will continue to be invested until the member attains the age of 55 years as prescribed by law from time to time. In the event of a death before the age of 55 years, the preserved employer contribution plus bonuses thereon will be payable in cash to the surviving beneficiaries.

In the event of a death in service, the accumulation (employer and employee contributions plus interest) is paid to the member’s surviving spouses and / or beneficiaries plus a lumpsum death benefit (provided the member contributed continuously for 12 months) as set by the Board of Trustees from time to time.