Retirement Funds

Retirement Funds

Retirement Funds include Pension Funds, Provident Funds, Retirement Annuity Funds, Beneficiary Funds and Unclaimed Benefit Funds. The primary purpose of retirement funds is to provide retirement or death benefits to members and their beneficiaries in terms of their registered rules. Retirement funds may also provide ancillary benefits such as disability benefits, withdrawal benefits, child and spouse’s benefits. The benefits payable by retirement funds are set out in the fund’s rules.

 

In terms of the Pension Funds Act, 1956 all private retirement funds must register with the Registrar of Pension Funds. Retirement Funds operate in terms of their registered rules and the provisions of the Pension Funds Act.
 

The Registrar of Pension Funds supervises all private retirement funds in South Africa. Funds established by special laws for employees of the State and certain parastatal institutions, such as the Government Employees Pension Fund and the Transnet Pension Fund, presently do not fall within the jurisdiction of the Registrar of Pension Funds. 

Read the following brochure for more information about Retirement Funds ​ 

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