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FREQUENTLY ASKED QUESTIONS Date of first contribution ...

FREQUENTLY ASKED QUESTIONS date of first contribution received by the fund Is the date that the FUND received your very first contribution , this will very seldom be the date you started with your employer as there is always a delay from the time you are ENGAGED for employment to the day your contributions are received by the FUND. Please bare in mind that this date does not have any affect on your benefits. Taxation All benefits are subject to issuing of a tax directive by SARS. Resignation / Retrenchment / Retirement benefit This benefit is payable in the form of a once-off lump sum. It comprises the member contributions, the employer contributions to retirement funding, any amounts received from past funds, as well as bonuses declared. Retirement age Normal retirement age is 65. Early retirement may be taken from age 55. Disability benefit / Death benefit These benefits are payable in the form of a once-off lump sum.

FREQUENTLY ASKED QUESTIONS Date of first contribution received by the fund Is the date that the FUND received your very first contribution, this will very seldom be the date

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Transcription of FREQUENTLY ASKED QUESTIONS Date of first contribution ...

1 FREQUENTLY ASKED QUESTIONS date of first contribution received by the fund Is the date that the FUND received your very first contribution , this will very seldom be the date you started with your employer as there is always a delay from the time you are ENGAGED for employment to the day your contributions are received by the FUND. Please bare in mind that this date does not have any affect on your benefits. Taxation All benefits are subject to issuing of a tax directive by SARS. Resignation / Retrenchment / Retirement benefit This benefit is payable in the form of a once-off lump sum. It comprises the member contributions, the employer contributions to retirement funding, any amounts received from past funds, as well as bonuses declared. Retirement age Normal retirement age is 65. Early retirement may be taken from age 55. Disability benefit / Death benefit These benefits are payable in the form of a once-off lump sum.

2 Please note that a limitation of the benefit might be applicable in the first 5 years of membership in the case of disability. Fund information Information such as the Fund Rules, Financial statements, the most recent actuarial valuation reports and Application forms can be obtained from our website : and are available for inspection at the Fund s registered office. Benefit claims All claim forms should be obtained from your Motor Industry Bargaining council regional office (MIBCO) or from the MIFA website Upon completion the forms must be returned to the Motor Industry Bargaining Council (MIBCO). (No faxed copies will be accepted). MIBCO ( Gauteng ) (011) 369-7500 MIBCO ( Port Elizabeth ) (041) 364-0250 MIBCO ( Durban ) (031) 205 5526 MIBCO ( Cape Town ) (021) 948 6400 MIBCO ( Bloemfontein ) (051) 409-4000 It is important to obtain professional financial investment advice.

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