Information Booklet Pensioner Benefit Statement Pensioner SENTINEL 2009 Mining Industry Retirement Fund Safeguarding Your Future Sentinel Mining Industry Retirement Fund (Sentinel) Reg No 092 www.sentinelretirement.co.za MPF House 32 Sunnyside Drive Benefits Sunnyside Park PARKTOWN 2193 P O Box 61172 MARSHALLTOWN 2107 Johannesburg . South Africa e-mail email@example.com Tel (27)(11) 481-8000 Fax (27)(11) 481-8111 Statement Mine Employees Pension Fund (MEPF) Reg No 089 www.minepensions.co.za M INE EM PLOYEES PENSION FUND 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 your death. 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. EXAMPLE MINE EMPLOYEES PENSION FUND SENTINEL MINING INDUSTRY RETIREMENT FUND BENEFIT STATEMENT FOR PENSIONERS AS AT 15 JUNE 2009 Name Plan number / Participant Number Address PERSONAL DETAILS Date of birth: Identity number: PENSION BENEFITS CURRENTLY IN PAYMENT Benefit Type: Effective Date: Term Certain Period: Gross Pension: Tax deduction: Medical aid deduction: Other deductions: __________ Nett pension: 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. General 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. Identification You can identify yourself through your initials, surname, identity number / date of birth or passport number. Pension Benefits 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. Spouse pension 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 this publication) 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 retirement. Refer to Pension A and C below for value. 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 benefit. 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.
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