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Must I belong to my employer’s retirement fund?

The law says clearly that membership of a tax-approved fund is compulsory for all qualifying employees of an employer who participates in the fund.

Therefore, your employer must make fund membership a condition of service for all qualifying employees.  Normally, the rules of a fund state that all employees who have been appointed as the permanent staff members are obliged to become and remain fund members.

Is my retirement fund the best place to save my money?

Yes, it is and here is why: Retirement fund investments are not taxed. This means you can accumulate much more money for your old age in a retirement fund than in another investment such as a unit trust.

If you save the same amount of money in your retirement fund instead of another investment, you may have up to 120% more money when you retire! (This statement is based on calculations done by our consultants. If you’re interested in reading more about this, or have some questions, please send us an e-mail).


Important note:

Neither the fund nor your employer has the power to allow a qualifying employee not to join the fund.

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