MCPF rules were registered on 28 July 1989 taking into account the Pension Fund Act. Members are encouraged to familiarise themselves with the MCPF rules as these rules give direction to all decisions taken by the Board.
Our first revised rules were registered on 20 May 1997 with the second revision being registered on 29 August 2002 with effect from July 2001 and amended by the following:
The MCPF Board is continuously looking at way to improve member benefits whilst keeping in line with the Rules and welcome all suggestions from members may
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’s share account (fund credit) is completetd as follows|
|b.||Portion of council’s contributions
*Minus risk benefits and costs
Allocation to member
|c.||Plus interest and investment returns Total Fund Credit||22.75%
_ x.xx _
|All Benefits are taxable|