Thursday, 24 April 2014

SURPLUS APPORTIONMENT AND DATA VERIFICATION EXERCISE

As a result of amendments to the Pension Funds Act in 2007, Bargaining Council Retirement Funds fall under the Pension Funds Act with effect from 1 January 2008.

In accordance with the provisions of the Act, the Metal Industries Provident Fund and Engineering Industries Pension Fund are required to apportion surplus funds amongst eligible stakeholders including former members of these Funds, should any surplus exist in these Funds at the Surplus Apportionment Date of 31 March 2008.

The Trustees of the Funds are also using this opportunity to trace and pay any former members who left these funds but failed to take their benefits due to them when they left.

The Trustees of the Funds therefore request anyone who is a member, a pensioner or a former member of the Funds (or their predecessor funds) to contact the Metal Industries Benefit Funds Administrators (MIBFA) to ensure that they have on record the correct contact details for all members.

You should contact MIBFA if you are a member, a pensioner or a former member of one of the following Funds:
  • Metal Industries Provident Fund (MIPF)
  • Engineering Industries Pension Fund (EIPF)
  • Metal Industries Group Pension Fund (MIGPF)
  • Metal Industries Group Life and Provident Fund (MIGLPF)
Please note:

  1. When you contact MIBFA please have the following at hand:
    • Your identity number (new and old)
    • Documents such as a benefit statement, a membership card or a salary slip showing contributions deducted
    • Contact telephone number and cell phone number
    • Postal and home address
  2. Membership or former membership of one of these funds or contacting MIBFA does not mean you will be entitled to a benefit. This can only be determined once the Trustees have collected all the data and determined the financial position of the funds.
  3. This process is expected to take at least 18 months to complete.
  4. There is no registration fee to contact MIBFA. You are advised not to pay any third parties to assist you in replying to the Funds, as the Trustees have set strict procedures to be followed in the process.

Please contact us on: 0861 50 44 55