Part I: Defined Benefit Pension Fund

Part II: Defined Contribution Pension Fund

At least once a year you’ll receive a benefit statement. This will show you exactly how much your Accumulated Credit (your savings) in the Fund is. It will show you how much you have put in, and how much the company has put in, plus the interest these contributions have earned. It will also show you all the benefits that you and your family are entitled to.

Yes. If you belonged to a Pension or Provident Fund with your previous fund or if you have a Preservation Fund you may transfer your money in that fund to the ISASA Retirement Fund.  You can’t transfer from a Retirement Annuity to the ISASA Retirement Fund.

The amount you transfer will be credited in full to your Accumulated Credit.  The transfer will be tax-free.

• Your Retirement Pot in the previous fund will be allocated to your Retirement Pot in the ISASA Retirement Fund.
• Your Vested Pot in your Previous Fund will be allocated to your Vested Pot in ISASA Retirement Fund. However, in some Funds, members had a Vested and Non-Vested share in their Vested Pot. If you do not lose your Vested Share when transferring from your previous fund (please check this with your previous fund), your Vested Share will be allocated to your Vested Share in your Vested Pot in the ISASA Retirement Fund and your Non-Vested Share in your previous fund will be allocated to your Non-Vested Share in your Vested Pot in the ISASA Retirement Fund. However, you may elect to transfer your Vested Pot in your previous fund to your Retirement Pot in the ISASA Retirement Fund.
• Your Savings Pot in your previous fund will be transferred to your Savings Pot in the ISASA Retirement Fund.

However, if you transfer your Vested Pot or Savings Pot from your previous fund to your Retirement Pot in the ISASA Retirement Fund, you will NOT have access to that money before retirement once transferred to the Retirement Pot and you cannot transfer back from the Retirement Pot to the Savings Pot or Vested Pot. This substantially reduces access to your money in an emergency and a lump sum portion at retirement.