The Municipal Councilor’s Pension Fund (MCPF) was established on the 1st May 1988 in terms of the Pension Benefits for Local Authorities Act 105, 1987 as the only Fund to service the retirement needs of Municipal Councilors.
The Fund is associated with almost all 278 Municipalities and is an autonomous body managed by a Board of 13 Trustees consisting of nine (9) directly elected provincial member Trustees (Councilors); two (2) appointed Trustees from the Employer Body (South African Local Government Association) and two (2) independent Trustees.
Trustees of the MCPF perform their responsibilities in terms of the Pension Funds Act No. 24 of 1956, the Income Tax Act No. 58 of 1962 and other applicable legislation. In line with the Fund’s Investment Policy Statement (IPS) substantial investments have been made in Direct Property locally. This proposal is an integral part of the Fund’s programme towards the improvement and development of the pockets of land in the Direct Property Portfolio.