RULES - MIBFA

1 Engineering Industries Pension Fund RULES APPLICATIONS FOR benefits Applications for benefits are to be addressed to: The Manager Engineering Industries Pension Fund P O Box 7507 Johannesburg 2000 Office Address: Ground Floor (Frederick Street entrance) Metal Industries House, 33 Frederick Street Johannesburg 2001 Telephone: (011) 870-2000 Fax : (011) 870-2251 Website: INDEX TO RULES Contents ..Page No. 1. 2 2. 3 3. 7 4. 8 5. SERVICE AND PENSIONABLE 9 6. 7. SPECIAL BENEFIT 8. CONVERSION - SCHEME A AND SCHEME B.

2 26 9. TRANSFER TO A PROVIDENT 10. APPOINTMENT OF ACTUARY AND 11. FINANCIAL 29 12. SPECIAL 35 13. 38 14. MEMBERS RIGHTS IN THE EVENT OF MERGERS AND 38 15. WINDING UP .. 38 16. MEMBERS MAY OBTAIN COPIES OF 39 APPENDIX 1: SPECIAL PROVISIONS APPLICABLE TO MEMBERS AND OTHER BENEFICIARIES OF THE METAL INDUSTRIES GROUP PENSION FUND .. 40 APPENDIX 2: SECTION 4 OF THE INDUSTRIAL 45 ANNEXURE: EXTRACTS FROM THE 48 1. GENERAL (a) The Fund known as the METAL INDUSTRIES GROUP LIFE AND PROVIDENT FUND was established on 29 July 1957 as a provident fund.

3 The Fund was converted to a pension fund without change of name as from (i) 2 June 1975 in respect of the group of industries known as the Iron, Steel, Engineering and Metallurgical Industries; (ii) 15 September 1975 in respect of the Electrical Contracting and Servicing Industry, Cape; (iii) 4 April 1977 in respect of the Electrical Industry, Natal. With effect from 31 March 1990 the name of the Fund was changed to the ENGINEERING INDUSTRIES PENSION FUND.

4 With effect from 1 January 1995 the Metal Industries Group Pension Fund was merged with the Fund. (b) These RULES incorporate all amendments up to and including 1 January 1995 and shall replace the RULES previously in force for all MEMBERS. Payment of benefits to or in respect of a person who became entitled to a benefit from the Fund before 1 January 1995 shall continue to be made in terms of the RULES in force on the date on which that person became entitled to the benefit or in the case of a DEFERRED PENSIONER, the date on which he became a DEFERRED PENSIONER.

5 (c) The special provisions applicable to those persons who were members of the Metal Industries Group Pension Fund on 31 December 1994 or who were receiving benefits from that fund on that date are set out in Appendix 1. 2/.. (d) If the registration of these RULES in terms of the Act is effected later than 1 January 1995, the RULES shall nevertheless take effect from 1 January 1995. 2. INTERPRETATION In these RULES words defined in the ACT and not in the RULES shall have the meanings assigned to them in the ACT and words defined in the CONSTITUTION and not in the RULES shall have the meanings assigned to them in the CONSTITUTION and, unless inconsistent with the context, all words and expressions signifying the singular shall include the plural and vice versa, words and expressions implying the masculine gender shall include the feminine, and the following words and expressions shall have the following meanings.

6 - (i) ACT shall mean the Pension Funds Act, 1956 and the regulations framed thereunder. (ii) ACTUARY shall mean a Fellow of the Institute of Actuaries of London or of the Faculty of ACTUARIES in Scotland, appointed in terms of these RULES . (iii) APPROVED PENSION FUND shall mean a pension fund, for other than a PRESERVATION PENSION FUND, approved as such by the Commissioner for the South African Revenue Service the purposes of these RULES .

7 (iv) APPROVED PROVIDENT FUND shall mean a provident fund, other than a PRESERVATION PROVIDENT FUND, approved as such by the Commissioner for the South African Revenue Service for the purposes of these RULES . (v) AUDITOR shall mean an auditor registered under the Public Accountants and AUDITORS ACT, 1991 appointed in terms of these RULES . (vi) BOARD shall mean the Board of Management established in terms of the CONSTITUTION.

8 Vii) CONSTITUTION shall mean the CONSTITUTION of the Fund. viii) CONTRIBUTING MEMBER shall mean a MEMBER who at any given time is contributing together with his EMPLOYER or the PERMANENT DISABILITY SCHEME to this Fund. 3/.. (ix) COUNCIL shall mean the Metal & Engineering Bargaining Council, the Electrical Industrial Council, Natal and the Industrial Council for the Electrical Contracting and Servicing Industry, Cape. (x) DATE OF CONVERSION shall mean: (i) 2 June 1975 in respect of the group of INDUSTRIES known as the Iron, Steel, Engineering and Metallurgical Industries; (ii) 15 September 1975 in respect of the Electrical Contracting and Servicing Industry, Cape; (iii) 4 April 1977 in respect of the Electrical Industry, Natal.

9 (xi) DEFERRED PENSIONER shall mean a MEMBER for whom a PENSION in terms of Rule 6(I) has been secured. (xii) ELIGIBLE SPOUSE shall mean; (i) the widow, or widower, of a CONTRIBUTING MEMBER, or PENSIONER, at the date of the CONTRIBUTING MEMBER S, or PENSIONER S death; provided that such persons either the CONTRIBUTING MEMBER S, or PENSIONER S legal spouse, by whatsoever rites married or was a person with whom the CONTRIBUTING MEMBER or PENSIONER, was living in a customary union as defined in the Black Administration Act, 1927, or in a union recognised as a marriage under the tenets of an Asiatic religion.

10 Or (ii) women, or man, with whom a CONTRIBUTING MEMBER, or PENSIONER, was, although not legally married, living as man and wife at the date of their death whom the Trustees, in their absolute discretion, may regard as t h e C o n t r i b u t i n g MEMBER S, or PENSIONER S ELIGIBLE SPOUSE; provided that such person, in the case of the death of a PENSIONER, was a person as specified above when the PENSIONER retired.