Sunday, 21 December 2014

 
ENGINEERING INDUSTRIES PENSION FUND
(REG NO. 12/8/5040/2)
 
REPORT TO MEMBERS – 31 MARCH 2007
 
 

Dear Member,

The Board of Management has pleasure in presenting a report on the position of the Fund for the financial year ended 31 March 2007. The Engineering Industries Pension Fund is one of the largest Pension Funds in the country with total assets exceeding R44,9 billion (Forty four thousand nine hundred million rands ) at market value.

The Fund provides pension and lump sum benefits on retirement, retrenchment/redundancy and withdrawals to members or to their beneficiaries on their death. Members automatically belong to the Metal and Engineering Industries Permanent Disability Scheme which provides a salary continuation benefit for members who have been declared permanently disabled by the Medical Advisors of the Scheme.

NOTE:

New employees in the Industry have a choice of participating in the Engineering Industries Pension Fund or in the Metal Industries Provident Fund. This option may be changed within the first 3 months of employment .

The composition of the Fund as at 31 March 2007 was 29 258 contributing members and 39 400 pensioners in receipt of monthly payments. (In 2006, there were 30 483 contributing members and 39 332 pensioners).

CONTRIBUTING MEMBERS AND PENSIONERS

ASSETS (MARKET VALUE)(R000,000’S)

 
 
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