How do I claim for my refund benefit?

Once an employee has resigned or is terminated, the  Company’s Human Resource Department must submit a Pension Refund Request Form to the Administrator. The form must be completed as per requirements stated.

What are the procedures in processing my  refund benefit?

Upon receipt of the completed Pension Refund Request form, The Pension Fund will prepare a cheque after:

• verifying and posting your final contribution, and
• posting interest up to the time of cheque processing

When the cheque is prepared and signed by two authorised signatories of the Administrator, it will be forwarded to the Company’s Human Resource Manager along with your final statement of account.

Given that the Administrator has wait for the final pension contributions to be submitted to verify your final account balance, the refund process may take two to four weeks, depending on your date of departure.

Alternately, you can choose to do the following:

• If you have contributed to the Pension Fund for more than 10 years, you can leave both a) your contributions, interest and bonuses and b) the Company’s contributions, interest and bonuses with the Pension Fund and apply for a deferred pension at retirement based on total accumulated monies in the account at the retirement date, or
• If you have contributed to the Pension Fund for more than 10 years, you can ask for the total monies in your account to the transferred to the approved Pension Fund of your new Employer or to an approved Retirement Fund.

Do I ever get the Company’s contribution?

Only:

• When you retire with the company at retirement age and have contributed to the Pension Fund for at least 10 years,
• On death during employment, where your beneficiary receives a death pension.