Contributions

Your contributions will differ depending on which part you belong to. Please see a breakdown of the contributions for each part of the Fund below:

• Member Contributions: Members contribute 7% of their Pensionable Salary.
• Employer Contributions: Employers cover the remaining cost as determined by the Actuary, including administration fees and risk benefits.
• Retirement Age: Normal retirement age ranges from 60 to 65 years, as specified by the school.

• Member Contributions: Members contribute a minimum of 5% of their Pensionable Salary.
• Employer Contributions: Employers contribute a minimum of 4%, plus the costs of insured death, disability benefits, and administration costs.
• Retirement Age: Normal retirement age is between 60 and 65 years, as determined by the school.

You may make additional voluntary contributions to the Fund each month and can cancel anytime.

• You receive a tax deduction on your contributions towards all retirement funding, up to 27.5% per annum of remuneration/taxable income.
• This is subject to a maximum deduction of R350,000 per year—any excess amount can be rolled over and deducted in future years.

How do I make additional contributions?

Contact your Human Resources department or administrator.

If you leave the Fund, you automatically become a Preserver member after 120 days unless you actively choose another option. As a Preserver member, you cannot make further contributions, and the insured benefits (death and disability) will cease. Your accumulated credit continues to be invested.

Contributions towards all retirement funding are eligible for tax deductions up to 27.5% per annum of remuneration or taxable income, with a maximum deduction of R350,000 per year.