To provide members with the best possible benefits with maximum returns on investments through excellent management of the financial contributions of municipalities and members.
The Municipal Councillors Pension Fund (MCPF) was established on 01 May 1988 in terms of the Pension Benefits for Councillors of Local Authorities Act No. 105 of 1987. The MCPF is a Defined Contribution (DC) Pension Fund, as defined in legislation, committed to effectively and efficiently providing benefits to members and beneficiaries.
Almost all of the 264 municipalities from all 9 (nine) provinces in South Africa and approximately 6000 councillors from these municipalities are members of the MCPF. The Fund is currently managed by the Curators as appointed by the Gauteng North High Court from 19 December 2017. The powers of the Curators stem from court order which was made final on the 19th March 2018. Read More link MCPF Curators
Contributions are made in accordance with the Remuneration of Public Office Bearers Act No.20 of 1998 and subsequent Government Notices that get issued in this regard from
time to time.
|Member||= 13.75% or||7.5%|
|Council||= 15.00% or||7.5%|
|Total||= 28.75% or||15%|
|Member’s share account (fund credit) is completetd as follows|
Portion of council’s contributions
*Minus risk benefits and costs
Operational Costs -2.75%
Allocation to member
|c.||Plus interest and investment returns Total Fund Credit||22.75%
_ x.xx _
|All Benefits are taxable|