Financials

Financials

The Municipal Councillors Pension Fund is audited on an annual basis in line with the rules of the Fund and in compliance with the Pension Funds Act.

Financials

The Municipal Councillors Pension Fund is audited on an annual basis in line with the rules of the Fund and in compliance with the Pension Funds Act. An independent audit is done to provide a true reflection of the financial position of the Fund.

A statuary valuation is done every three years with the results being submitted to the Financial Services Board. Interim valuations are performed as and when required and presented to the Board of Trustees and Financial Service Board. All valuations are done to ensure solvency of the Fund

Status of the Member accounts & Benefit Statements

Audit of the Annual Financial statement as at 30 June 2016 will be due by 30 October 2017 , benefit statements have been delayed.

Extension is due to Properties to be correctly valued for audit purposes so that the Fund is able to calculate the correct Member values

Becoming a member

  • Complete and submit the new member application form to your H R Department for processing and the Fund.
  • Complete beneficiary nomination form.
  • In order to qualify for the risk benefits, your first contribution needs to have been received by the Fund.
  • Your date of joining will however reflect as the 1st day of that respective month, even though your contribution will only be paid at the end of that month.
  • Once the Fund has received your first contribution your membership card, certificate and member guide will be issued.
  • A member cannot be loaded without a new member application form