PENSIONERS
The Fund has various categories of pensioners.
Permanent Disability Pensioners:
Permanent Disability Pensioners are paid monthly from the Fund and such payments will continue until the pensioner reach the age of 65. These pensioners receive an annual increase as determined by the Fund’s Actuary.
Every year, before 30 June, Pensioners are required to submit a Certificate of Existence to the Fund on the following form:
Click here: Certificate of Existence GMRF
Outsourced Pensioners
The Fund outsourced all its pensioners in 2005 to Liberty and Old Mutual in the name of the Fund. Alexander Forbes administer the payment of the Liberty pensions and Pencare the payment of the Old Mutual pensions
Pension increases are determined by the Insurers based on the performance of the underlying investments.
Pensioners who are in receipt of a pension from Old Mutual must once a year submit a Certificate of Existence.
Spouse and Children’s Pensions
Eligible Spouses and children who became pensioners due to the death of a Member are purchased from Old Mutual in the spouses’ and children’s names. However, until such a case has been finalized, the Fund pays the monthly pensions. Once outsourced to Old Mutual, the monthly pension is paid by by Pencare.
Once a year a Certificate of Existence is required from these pensioners. (Certificate of Existence Old Mutual)
Important to note is that once a minor child attains the age of 18, the pension will cease unless proof of schooling and the banking details of such a child have been submitted to Old Mutual. An arrangement can however be made with Old Mutual to continue payment of the monthly pension into the guardian’s account if the child agrees to it.
Form: Click here: Indemnity letter 3rd Party Old Mutual
Pensions to children between the age of 18 and 23 will only be paid on receipt of annual or biannual proof of full time studies from a registered approved tertiary institution. These certificate must be submitted to Pencare. The pension ceases once the child reaches age of 23.