List of pension funds in South Africa 2022: How many are there?
Most South Africans have heard of pension and providence funds but do not know how they operate, their significance and how to benefit from them. So, this list of pension funds in South Africa sheds light on the topic and highlights how they operate.
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Source: UGC
In South Africa, every large company, industry and professional association has a pension scheme whose function is to protect the interest of its employees. It signifies that the employees are well taken care of and are taking care of themselves. How many pension funds in South Africa do you know? Go through this list for more insights.
How do pension funds work in South Africa?
They work by receiving monthly contributions from the employee and employer. One can access up to a third of the benefit in cash and two-thirds in income annuities at retirement. So, who qualifies for a pension fund in South Africa? If you earn less than R78,120 annually or R156,240 if living with a spouse, you are legible for a pension.
What is a provident fund in South Africa? It is a retirement scheme run by the government. The government makes it compulsory for employees and employers to contribute to the scheme. The government also determines the conditions for withdrawing by setting the age limit you need to attain and the amount.
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Pension fund companies in South Africa
Your retirement is a significant milestone, and your pension scheme guarantees to make the transition as seamless as possible. The scheme informs you of the total amount of your retirement amount and how you can access it. So, what are the different pension funds? These are the pension funds in South Africa.
1. Cape Municipal Pension Fund
This scheme serves Cape Municipal workers to build and grow wealth for retirement. It provides determining capital gains through various investment opportunities.
You could reach out to Cape Municipal Pension Fund through its official website or these platforms:
- Physical address: 18th Floor, South Tower, The Towers, 2 Heerengracht, Cnr Heerengracht & Hertzog Blvd, Cape Town
- Phone number: 021 418 4140
- Email address: info@capefund.com
2. The Motor Industry Retirement Fund
Source: UGC
The Motor Industry Retirement Fund has over 250,000 members and assets worth more than R35 billion. The auto workers' provident fund is designed to grow wealth for workers in the country's auto manufacturing industry.
The Auto Workers Provident is one of the largest and fastest-growing local government funds in South Africa.
- Physical address: 275 Kent Ave, Randburg, 2125
- Telephone number: 011 561 9300
- Fax number: 011 787 3046
3. Durban Pension Fund
Durban Pension Fund represents a merger of the former Durban Municipal Pension Fund and the Durban Corporation Superannuation Fund. Alexander Forbes Administration Services manages it, and its investments are in real estate, infrastructure, and natural resources.
- Physical address: Florence Mkhize Building, 251 Anton Lembede (Smith) Street, Durban, 4001, South Africa
- Phone number: 03157380000
- Email address: DbnPensioners@aforbes.co.za
4. Eskom Pension and Provident Fund
Source: UGC
Eskom Pension and Provident Fund is a retirement, pension and provident scheme set up for employees at Eskom.
- Physical address: 24 Georgian Cres E, Bryanston, Johannesburg, 2021, South Africa
- Phone number: +27 11 709 7400
5. Edcon Provident Fund
Edcon Provident Fund is a public pension scheme. It covers employees working at Edcon, a retail conglomerate that deals in footwear, clothing, sporting goods and accessories.
You can make inquiries by visiting its official address at 1 Edgardale Press Ave, 2092 Johannesburg, South Africa
6. Independent Schools Association of Southern Africa Pension Scheme
This is another public pension in South Africa, and it caters to workers in the country's private schools. It has teachers from about 850 schools across the country.
- Physical address: 16 St David Rd, Houghton Estate, Johannesburg, 2198. South Africa
- Phone number: +27 11 648 1331
7. Metal Industries Benefit Funds Administrators (MIBFA)
This is a public pension scheme that caters to workers in the metal industry. If you are in this field and would like to reach out, do so through these contact platforms:
- Official address: 42 Anderson St Marshalltown, Johannesburg, 2107, South Africa
- Phone number: +2711 870 2000
8. Mineworkers Provident Fund
Source: UGC
Granted its name, you can guess that this is the retirement, pension and provident scheme for workers in the mining industry. You can access information about it through these platforms:
- Physical address: Office No.2, S'buys Business Park, Kaolin St Carletonville, 2499 South Africa
- Phone number: +27 10 100 3190
9. University of Cape Town Retirement Fund
It serves workers at the University of Cape Town. You can make your inquiries through these platforms:
- Physical address: 3rd Floor Sunclare Building, 21 Dreyer St Claremont, Cape Town, 77, South Africa
- Phone number: +27 21 650 2934
10. SABC Pension Fund
This public pension caters to workers of the South African Broadcasting Corporation. Inquiries about it can be made through these platforms:
- Physical address: Pension Fund House, 77 Twickenham Ave, Auckland Park, Johannesburg, 2092, South Africa
- Telephone number: +27 11 482 1383
11. South African Municipal Workers Union Provident Fund
It caters to workers in municipal governments and has over 52,000 people enrolled.
- Phone number: 012 743 3000
- Email address: info@nationalfund.co.za
12. KwaZulu-Natal Joint Municipal Pension/ Provident Fund
Source: UGC
It serves workers at the KwaZulu Natal Municipal Authority.
- Physical address: 1 University Road 5 Derby Downs Office Park Westville, Durban, 3630, South Africa
- Phone number: +27 86 106 5673
13. South African Local Authorities Pension Fund
It caters to workers in the South African Local Authorities.
- Official address: 12 Fredman drive, SALA House, 1st Floo, Sandton, South Africa
- Telephone number: 011 282 3000
- Toll-free telephone number: 0800 725273
- Fax number: 011 282 3099
14. Tshwane Municipal Provident Fund
It serves individuals working for Tshwane Municipal Government, and inquiries can be made through its physical address: Block G 333, Grosvenor Street, Hatfield, Pretoria, South Africa.
15. Transnet Pension Fund
It serves employees at Transnet, a retail pipeline company with 55,000 people.
How do I check my pension fund?
The Registrar of Pension funds provides a central database on the FSCA website. The website allows the public to ascertain if there are any unclaimed benefits due to them.
How many pension funds are there in South Africa?
There are over 5,000 pension funds in South Africa. They include private and occupational pension funds.
Which is the largest pension fund in South Africa?
The largest pension fund is the Government Employees Pension Fund, which has over 1.2 million people.
This list of pension funds in South Africa provides the options available and how to take the next step. The options can be a little overwhelming, although if you are informed, you are more likely to make the best decision.
READ ALSO: List of STD Bank branch codes in 2022: All universal codes for Standard Bank
Briefly.co.za published an extensive list of STD Bank branch codes in 2022. The reliability of the bank and the codes are enough to convince you to have an account.
STD is one of the largest banks in South Africa, with its headquarters in Johannesburg. It has several branches across the country.
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Source: Briefly News
