One of the requirements of the Pension Funds Act is that the Funds are required to advise Fund members when no contributions are received in respect of that Fund member.
Please see below an SMS to Fund members that will be disseminated should the Funds not receive their contribution from employers. This communication will be in respect of August 2023 contributions and will be transmitted in September.
“Dear Member, your contribution payment for the month of August 2023 has not been received. If you die or are disabled, the fund will not pay the death or disability benefit. Please contact your employer for queries. If your employer has paid your contribution, they must contact MIBCO. For your fund credit and benefit statement information, send a WhatsApp to 0115619301 and follow the prompts.”
We, therefore, urge all Members to ensure that their August 2023 retirement fund contributions are paid timeously.
If you have any queries in this regard, please contact your local IR Specialist: IR Contacts – Retail Motor Industry Organisation (rmi.org.za).
