Beruflich Dokumente
Kultur Dokumente
INDEX
PAGE
1.
Introduction
2.
3.
Membership Criteria
4.
Contributions
5.
6.
7.
Fund Benefits
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12
12
8.
HOW TO CLAIM
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9.
15
10.
CONTACT DETAILS
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1. INTRODUCTION
Thank you for taking the time to read this very important document.
The information in this booklet applies to all members of the Road Freight and Logistics
Industry Provident Fund. Every effort has been made to ensure the accuracy of this booklet,
however the Fund Rules will always apply in the event of any dispute arising. You may
obtain an electronic copy of the Rules of the Fund from the registered office of the Fund,
from the Fund administrator or the Funds website.
The Fund is approved in terms of the Income Tax Act and registered in terms of the Pension
Fund Act, under the name Road Freight and Logistics Industry Provident Fund. This
legislation governs the rules of the fund, the payment of benefits and the activities of the
Board of Trustees. What this means is simply that your money is protected by legislation and
laws to ensure that you have money saved for when you retire.
The Fund was established in 1992 to provide the members of the road freight and logistics
industry with adequate retirement and risk benefits and also to pay any withdrawal claims
when they arise.
We recommend that you obtain professional advice from a licensed financial adviser before
you exercise any options with regard to your retirement benefits.
SALT EB
Back Office - they receive the contribution schedules from Sanlam and
allocate contributions to members accounts. SALT receives complete
claim forms from Sanlam and process and pay claims. SALT
responsible for the administration of member records and compiling
the financial statements of the Fund as well as producing the member
benefit statements.
NMG
3. MEMBERSHIP CRITERIA
All staff members who fall within the eligible categories specified by the Fund are eligible to
join the Fund. Membership is compulsory. Membership of the Fund ceases when you
retire, die, your employer ceases participation in the Fund or you cease to be employed by
your employer due to ill health, retrenchment or resignation.
4. CONTRIBUTIONS
Every month, active Members contribute 10% of wages or salary towards their retirement
savings.
The employer also contributes 10% of members wages (on behalf of the member) to the
Fund to cover their risk benefits, other Fund expenses as well as additional retirement
savings.
Retirement savings are invested by the Fund over the
term of membership. The interest earned through this
investment is added to your retirement savings in the
form of annual bonus declarations.
your benefit transferred into the fund from any previous fund (if applicable);
your contributions made to the Fund;
the contributions made by your employer to the Fund on your behalf, less the costs of
the death and disability benefits and of the administration of the fund; and
the net investment growth (after investment fees) earned on the abovementioned
amounts.
BONUS ALLOCATION
All your contributions (full 100%) as well as a portion of the employer contributions is
invested on a monthly basis on your behalf so that your Fund value/savings can grow. The
growth accumulated from these investments is allocated annually to you in the form of an
annual bonus declaration.
The Bonus allocation for the past 3 years are:
7. FUND BENEFITS
7.1 RETIREMENT BENEFITS
Normal retirement age is 65 years and you may retire early from the age of 55, with your
employer's consent.
Contributions (that are allocated towards retirement savings) are invested by the Fund over
the term of your membership. The interest earned on the contributions invested (bonus
allocations) are also added. Retirement fund benefits are paid in a cash lump sum to you.
Retirement fund benefits taken in cash are taxed if the benefit is greater than R500 000.
Payment of retirement fund benefit
Retirement benefits taken in cash will be taxed according to the table below:
Lump sum Retirement
Tax liability
R0 to R500 000
Tax free
18%
NOTE ON RETRENCHMENT
If members are retrenched and they are younger than 55 years - the exit is seen as a
withdrawal from the Fund and is paid as a resignation benefit. Tax free amount is only
R 25 000.
If the member is older than 55 years - the exit is seen as a retirement from the Fund and the
benefit is paid as a retirement benefit. Tax free amount is R 500 000.
Resignation
Absconding
Dismissal
Your fund savings can be paid as a cash payment into your bank account.
Remember that withdrawal benefits taken in cash is taxed according to the following
table:
Lump sum withdrawal benefit
Tax liability
R0 to R25 000
Tax free
There are strict timelines in which the member must notify the Fund of his/her disability as
well as timelines for submitting the claim documents. Please make sure that you understand
these timelines.
6 Month waiting period
The waiting period for disability is 6 months. The waiting period and the process of applying
for the benefit runs concurrently. This means that the member /employer must
simultaneously notify the Fund of the potential disability claim (within the first 3 months from
last day active at work), and submit the relevant claim forms and additional medical report/s
requested within 6 months.
The insurer will assess the claim documentation during the waiting period, provide feedback
on whether the member is able to return to work or not (given the medical evidence and
claim documentation). If the claim is approved for disability (member not fit to return to work)
then the insurer will pay the lump sum benefit after the 6 months waiting period has expired.
During the six month waiting period the employer must continue to pay the disability
premiums and administration costs, if these premiums are not paid the insurer will not pay
the disability claim. It is imperative that contributions, especially risk premiums and
administration fees from the Employers side remain intact until such time that the employer
can ascertain what the circumstances of the member is.
Funeral Benefit (paid by NMG within 48 hours after all documentation is received)
If the member exits the Fund they will no longer be covered by or be able to claim for the
death benefit.
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Although the Trustees will follow wishes as requested on the beneficiary nomination form as
far as possible, the final decision of who will receive the death benefits rests with the
Trustees who must also consider any other dependants not nominated. The Pension Funds
Act allows trustees up to 12 months to investigate and decide how death benefits will be
distributed. If you do not have dependants, your benefit will go to your beneficiaries.
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The benefit is free to members of the Fund - all costs are paid by the Insurer;
Telephonic assistance with the arrangement of funeral or cremation, should the event
occur outside the normal place of residence;
Assistance with obtaining the death certificate should the death have occurred in
unnatural or unusual circumstances;
Who is covered?
All active members of the Fund and their immediate family members are covered by this
benefit provided contributions are up to date. Part of the money your employer contributes
every month pays for this benefit.
This benefit covers up to 6 registered spouses and up to 6 children.
If you exit the Fund you will no longer be covered by or be able to claim for funeral benefits.
NOTE
Active member:
A member who is currently contributing to the Fund
Immediate family member: Your spouse or your child (either biological or adopted)
Registered spouse:
A husband or wife recognised by South African Law
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Member
R20 000
R30 000
Spouse
R20 000
R30 000
Children:
Age 14-21
R15 000
R20 000
Age 6-13
R10 000
R10 000
Age 1-5
R5000
R7000
R2500
R4000
Stillborn
R2000
R3000
R26.50
R26.50
Funeral Claims
To avoid any payment delays, you should submit your claim as soon as possible. Funeral
claim payments are made within 48 hours after all documents have been received.
The claim form includes a list of supporting documents that must be attached when sending
in the claim. These include:
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8. HOW TO CLAIM
STEP 1: Fill in the claim form
Where to get a claim form:
www.rflipfund.co.za
Call 086 173 5473 toll free or visit the Sanlam RFLIPF walk-in-centres in
Braamfontein, Durban and Bellville (Cape Town);
Employer s HR department
The claim form includes a list of supporting documents that must be attached when sending
in the claim.
STEP 2: Get the employer to sign the claim form.
Your employer or HR department will need to sign the claim form so that the claim can be
processed and payment made.
Disability claims require a medical certificate to be verified by the Funds appointed medical
provider.
Death and Funeral Claims require certified copies of the Death certificate for verification and
supporting documents as required on the claim form.
STEP 3: Submit Claim
Submit the signed and stamped claim form with the required supporting documents to the
Sanlam RFLIPF walk-in centres in Braamfontein, Durban or Bellville.
Or submit via fax or e-mail:
Fax: 086 593 0006
Kindly address Road Freight and Logistics Industry Provident Fund related enquiries to:
claimsqueries@rflipf-sanlam.co.za
All new claim forms for Road Freight and Logistics Industry Provident Fund to be
submitted to: newclaims@rflipf-sanlam.co.za
Claim queries can be made via the Call Centre: Tel: 086 173 5473
The claim process:
1.
2.
3.
4.
For more detailed information on claims and supporting documents required please refer to
the relevant claim form as well as the Fund flyers. Please see www.rflipfund.co.za.
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Important: Home loans need to be re-paid before you reach normal retirement age. When
you resign the total outstanding loan is deducted from your withdrawal benefit. In this way
your loan is settled in full.
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Email:
Fund No:
12/8/37811
Fund website:
www.rflipfund.co.za
Email:bargainingcouncil@nmg.co.za
New claims:
newclaims@rflipf-sanlam.co.za
Claims queries:
claimsqueries@rflipfsanlam.co.za
Or
newclaims@rflipf-sanlam.co.za
Contact name:
Tebogo Mathebula
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