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"We will continue to lead the business and ensure that we are more attuned and better equipped to meet and exceed stakeholder expectations. We are finding more and more effective ways of adding value to our stakeholders especially our members."

Mkuseli Mbomvu

Chief Executive Officer

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About The Mineworkers Provident Fund - MWPF

The Mineworkers Provident Fund (‘Fund’) was established on 14 June 1989 with the main objective of providing benefitsformembers on retirement and for dependants of members who die in service. The Fund is a defined contribution Fund. The member’s retirement benefit is dependent on the contributions made and the investment growth thereon.

MINEWORKERS PROVIDENT FUND
3rd & 4th Floor
26 Ameshoff Street
Braamfontein, 2001
Johannesburg
South Africa
Principal Officer (PO)
clientservices@mineworkers.co.za
Switchboard: +27 (0)10 100-3000
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Retrenchment, Resignation & Dismissal


Retrenchment, Resignation & Dismissal
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Retrenchment & Resignation

How to claim when you resign or are retrenched

Should you resign or be dismissed, you will have the option to receive a cash lump sum equal to your Fund Credit. The benefit payable on retrenchment is identical to the benefit payable on dismissal or resignation. You may elect to take the benefit in cash or transfer the tax-free benefit either to an approved Provident Fund, Retirement Annuity and Preservation Provident Fund. Transfers to approved Pension Fund and Pension Preservation Fund will attract tax. Payment options You may take your full fund credit in cash, just remember that you will pay tax on a portion of the money.


CLAIM YOUR BENEFIT NOW !

  • You may transfer your full benefit to an approved provident fund or retirement annuity fund tax free; or
  • You may transfer your benefit to an approved preservation fund, which is subject to the requirements of the revenue authorities; or
  • The Rules of the Fund provides for members to defer their benefits until retirement age on resignation, dismissal and retrenchment.

    • Your Fund Credit will be:

  • The total retirement contributions;
  • Total Voluntary Contributions;
  • Total Transferred Portion; and
  • Net investment return.

    • Retrenchment(Cont.)

    The following will apply to a deferred benefit:

  • The minimum amount should be R10 000
  • No further contributions will be permitted
  • All benefits (Group life cover, ill health and funeral) ceases
  • The differed benefits will continue to be credited with net investment returns.

    • The Claim Process:

  • Complete the claim form
  • Get the employer to sign the claim form
  • Prepare and ensure you have all required, supporting documents
  • Submit the signed claim form with all supporting documents to your HR Office
  • All documents are received and verified
  • Claims are investigated by the trustees to determine benefit llocation
  • Tax calculation is applied
  • Bank verification is received
  • Payment is made

    For Claim Status or Benefit Statement, CLick Here or Contact us.

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    Documents Required for this Claim

    • A certified copy of your identity document, birth certificate or passport-displaying your photo and the passport’s expiry date.
    • Banking details (copy of bank statement stamped by the bank);
    • Withdrawal (Resignation, Dismissal & Retrenchment) claim form signed by the member and two Employer authorised signatories.
    • The withdrawal form must be stamped by the mine;
    • A letter stating your intention to transfer the full or part of the retirement benefit containing the institution’s contact details and policy details (if applicable).
    • An original or copy of an annuity letter, reflecting the annuity policy number (if you wish to transfer the full or part of your benefit to an annuity fund/registered pension/provident fund), or the original signed annuity application form, or the original letter from the broker (if applicable).
    • A foreign exchange questionnaire (if applicable).
    • A payslip (if your current income is less than R60 000 per year).
    • A letter from your employer confirming your resignation, dismissal or retrenchment.

    About MWPF

    The Mineworkers Provident Fund (‘Fund’) was established on 14 June 1989 with the main objective of providing benefitsformembers on retirement and for dependants of members who die in service. The Fund is a defined contribution Fund. The member’s retirement benefit is dependent on the contributions made and the investment growth thereon.

    Head Office
    26 Ameshoff Street
    3rd and 4th Floor
    Braamfontein
    Johannesburg, 2001
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