2009 Mining Industry Retirement Fund
Safeguarding Your Future
Sentinel Mining Industry
Retirement Fund (Sentinel)
Reg No 092
32 Sunnyside Drive
P O Box 61172
Johannesburg . South Africa
Tel (27)(11) 481-8000
Fax (27)(11) 481-8111
Pension Fund (MEPF)
Reg No 089
M INE EM PLOYEES
Your Fund provides you with an annual benefit statement to ensure that you
know your Fund, all its benefit and service offerings and where you stand in
terms of your monthly pension. It also shows whether your spouse, other
dependants or nominated beneficiaries will receive benefits in the event of
Personal particulars which are important to the Fund are reflected so that you
can confirm that it is correct. Should any of this information be incorrect, you
must please contact the Fund so that it can be corrected.
MINE EMPLOYEES PENSION FUND
SENTINEL MINING INDUSTRY RETIREMENT FUND
BENEFIT STATEMENT FOR PENSIONERS
AS AT 15 JUNE 2009
Plan number / Participant Number
Date of birth: Identity number:
PENSION BENEFITS CURRENTLY IN PAYMENT
Term Certain Period:
Medical aid deduction:
Other deductions: __________
DEATH BENEFITS (Important: See information brochure)
Spouse's pension payable (Y/N):
Spouse's pension: % elected:
Child's pension (Y/N):
Death cover (Y/N):
NB: Retain this benefit statement for your future reference. All relevant
communication from your pension fund should be read together with
this benefit statement.
Benefits are provided in terms of the Rules of the Fund(s) and based
on your personal circumstances and/or options exercised at the time
that the benefit became payable.
Only information relevant to your benefit composition is reflected in
your personal benefit statement.
This example shows information that could be reflected in your
personal benefit statement.
You can identify yourself through your initials, surname, identity
number / date of birth or passport number.
This shows a breakdown of your current net monthly pension. Tax
deductions are made in terms of current tax regulations. If an
arrangement has been made by your Medical Aid, the Fund will deduct
your contribution from your pension and pay it over to them.
This item indicates whether provision for a spouse pension was made
when you retired.
Payment of the spouse's pension may be affected if changes in your
personal circumstances occurred after retirement.
(Please refer to Pensioner Death Benefits in a Nutshell elsewhere in
DBS lump sum
This item indicates whether a lump sum will become payable in the
event of your death. This lump sum will be paid in terms of Section 37C
of the Pension Funds Act to your dependants, nominees or estate. An
updated Nomination Form will be valuable to the Trustees when a
decision about the allocation of this lump sum is made. (Please refer to
Pensioner Death Benefits in a Nutshell elsewhere in this publication)
Do you want more information?
If you need more information about your Fund,
the benefits and services offered or your own
pension, you may contact the Funds
telephonically or in writing or visit one of the
Client Service Centres.
Pensioner Death Benefits in a Nutshell
Date retired SPOUSE PENSION Date retired LUMP SUM
Sentinel: If you elected a spouse's pension at Sentinel: At retirement you had the option to
Before retirement, the pension will only become Before preserve a DBS lump sum equivalent to
31/5/1981 payable to the person you were married 1/1/1988 24 months' pensions, or to convert your
MEPF: to at the date of retirement, irrespective if MEPF: full DBS in favour of an additional
Before you are still married to that spouse at the Before retirement benefit.
31/3/1982 time of your death. MEPF pay a reduced 1/1/1991 Refer to Pension B below for value.
pension to a second spouse if your
spouse at retirement died during your
retirement and you remarried. Refer to
Pension A below for value.
Sentinel: A spouse's pension, if provided for at Sentinel: At retirement you had the option to
From retirement, is payable to: From preserve a DBS lump sum equivalent to
1/6/1981 (a)The person that you nominated as 1/1/1988 30 months' pensions, or to convert your
MEPF: your spouse at the time of your MEPF: full DBS in favour of an additional
From retirement, provided that you were living From retirement benefit.
1/4/1982 together as husband and wife from 1/1/1991 From 1/9/1994, MEPF compelled
retirement throughout until death. retirees to preserve a lump sum
(b)In Sentinel, if your spouse equivalent to at least 12 months'
predeceases you, or you divorce your pensions and to convert the balance in
spouse after retirement and remarry, no favour of an additional retirement benefit,
spouse's pension will be payable after while Sentinel allowed retirees to convert
your death. the full DBS in favour of an additional
(c)On 01 January 1991, MEPF retirement benefit.
introduced reduced spouse pensions to Refer to Pension B below for value.
post retirement spouses, i.e. a person
who became your spouse after
Refer to Pension A and C below for
Sentinel: A term certain guarantee of 5 years was Sentinel: If both you and your spouse die within the
From offered. If you die within the first 5 years From first 5 years of retirement, the monthly
1/3/2001 of retirement, your spouse receives your 1/3/2001 pensions for the remainder of the term
MEPF: full pension for the remainder of the 5 MEPF: will be capitalised and paid in a lump
From years, where after a spouse pension will From sum.
1/3/2003 be paid on a level of 75%. Only the 1/3/2003
spouse for whom a spouse pension was
provided at retirement will qualify for this
Sentinel Pension Income Choice was introduced Sentinel If both you and your spouse die within the
& MEPF: to offer retirees choice between a 5, 10, & MEPF: term selected at retirement (5, 10, 15, 20
From 15, 20 or 25 year term certain guarantee, From or 25 years), the monthly pensions for the
1/8/2005 as well as a choice between 75% or 1/8/2005 remainder of the term will be capitalised
100% spouse provision. and paid in a lump sum.
Sentinel: Pension Income Choice was extended to Sentinel: The previous dispensation was
From include a 3 tier pension income choice From expanded to include flexible pensions,
19/4/2007 plan which includes a combination of 19/4/2007 where remaining capital at death is paid
MEPF: From guaranteed and flexible pensions for MEPF: From in a lump sum.
8/10/2007 retirees who qualify. 8/10/2007
Pension A: A spouse pension equates to 50% of the pensioner's pension, excluding lump sum and early retirement adjustments.
Pension B: DBS cover is based on the pensioner's pension, excluding lump sum and early retirement adjustments.
Pension C: The reduced MEPF spouse pension equates to 33% instead of 50% referred to in Pension A above.