BREAKING NEWS!!!

Please take note that members’ benefit statements for both the Auto Workers Provident Fund and the Motor Industry Provident Fund have been posted to employers.

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Jul 24, 2020 | Covid19, Latest News

COMMUNICATION TO PENSIONERS OF THE FUND

SPECIAL COVID-19 ONCE-OFF RELIEF BONUS TO PENSIONERS

Dear Pensioners of the Motor Industry Pension Fund (2005),

The trustees of your Fund have carefully considered the current circumstances faced by our society in general as a result of the Covid-19 pandemic and specifically the wide-ranging impact it has had on the more elderly members of our society.

In light of this, your trustees have consulted with the Fund’s actuaries and decided to provide some financial relief to pensioners of the Fund by paying a Covid-19 related relief bonus, which will be a once-off payment made together with your July 2020 pension payment. The once-off bonus will be equivalent to 10% of your normal annual pension.

Members should note that this once-off bonus is affordable and the Fund’s actuaries have confirmed that the Fund remains in a healthy financial position.

We wish all our members well during this difficult time and our well wishes are extended to everyone.

Yours faithfully

Radesh Maharaj
Principal Officer
10 July 2020

Please contact our administrator, MIFA, at query@mifa.org.za or 011 561 9300 if you have a query

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