The Fund is managed by the Chief Executive Officer/Principal Officer together with his management and support team. The Fund is governed by the Pensions and Provident Funds Act, Finance Act and the Income Tax Act.
The Investments of the Fund are managed by the Trustees from time to time.
Employers are obliged to deduct 5% from an employee’s monthly basic salary and in turn contribute 5% on behalf of their employee plus 2.5 % stabilization. These contributions should be paid into the Fund’s account or offices on or before the 14th of the following month in terms of S.I 243 of 2006.
A full-time permanent member of staff , registered with the National Employment Council for the Motor Industry in terms of S.I 66 of 1995 (including a working Director) under the age of 65 years.
It is necessary that members provide the following details for every new member joining the Fund:
- Full name
- I.D number
- Date of Birth
- Date of Joining the Fund
What is a Life Certificate
A life Certificate is a declaration form to notify the Fund of pensioners’ existence.Pensioners are required to complete the Life Certificate at the beginning of every year and return them to the Fund.Please be advised that children’s pension are payable up to 18 years or 21 years of age if he or she is still attending full time education (Confirmation letters from their institutions should be attached).