ABOUT THE POLITICAL OFFICE-BEARERS PENSION FUND
The Political Office-Bearers Pension Fund provides retirement benefits for members of the National Parliament and the Provincial Legislatures of the Republic of South Africa, including members of Cabinet and the Provincial Executives. The Fund is largely a Defined Contribution arrangement, but has a Defined Benefit component as well - the meaning of the terms Defined Contribution and Defined Benefit is explained under Benefits provided by the Fund.
The Fund does not pay pensions itself. The retirement benefit is provided as a capital amount (lump sum) and it is your responsibility to choose a pension provider and purchase a pension annuity at your retirement, using at least two-thirds of the capital amount. This is explained further under Retirement Options.
In addition to providing retirement benefits, the Fund also provides benefits on resignation (loss of office) and death. There are other benefits associated with the Fund although not actually provided by the Fund or covered by the Fund Rules - these are disability income benefits, family funeral benefits and life insurance benefits for members’ spouses. These associated benefits are also dealt with under Associated Benefits.
To learn more about the POLITICAL OFFICE-BEARERS PENSION FUND, the way in which it operates and the choices YOU are empowered with, we invite you to read through the various sections of this Web-site.
This site contains a summary of the Rules of the Fund. In the event of a conflict between this guide and the Rules, the Rules will take precedence. A copy of the Rules will be provided to Parliament and each of the Provincial Legislatures, and members who wish to examine the Rules should therefore contact either their local Trustee(s) or their Human Resources Department.
The site also provides information on investments. In this regard, readers should note that past investment performance is not necessarily a pointer to future investment performance. Investment statistics shown in this guide are based on past performance.
Members are encouraged to seek expert financial advice before taking decisions regarding their benefits from the Fund.
The information in this site does not constitute advice by either the Board of Trustees or its professional advisors.
The Fund will try to ensure that the material in this site is up to date and accurate, but this cannot be guaranteed at all times.