RESIGNATION

Various options are available to Members when they exit the service of the Employer.

• Take 100% of Member Share as a cash lump sum (Subject to Tax)
• Preserve your benefit by transferring a chosen percentage to a Preservation Fund and receive the balance in cash. (The cash portion is subject to Tax)
• Preserve 100 % of Member Share in the Fund

Should you neglect to make a selection when you exit the service of the Employer, you will automatically become a Paid-up member of the Fund as a Preserved Member. This means your money will remain invested in the Fund and will continue to grow with investment returns until such time when you exercise a choice. A monthly administration fee will be deducted.

No contributions may be made and you are not covered for death and disability. However, in the case of death, your Member Share will be distributed in terms of Section 37C of the Pension Funds Act.