Provident Fund members receive a lump sum on retirement. Members may now consider the purchase of a Fund endorsed annuity.
This is a voluntary scheme.
Benefits
Sanlam guarantees you a pension for life which will never decrease.
Other benefits include:
Inflation-linked pension increases, by at least 75% of CPI.
Spouse receives 60% of pension if member dies.
Lump sum benefit if member dies within 5 years.
The NJMPF has negotiated preferential pricing on your behalf, for an annuity with Sanlam.
Requirements
Must be a member of the Provident Fund.
Must be over the age of 55
What Next?
The benefits and features of the fund annuity offered by Sanlam will be explained by the Fund at its regular road shows to members.
You will have access to brochures documenting this information, in case you are not able to attend the road shows.
This NJMPF endorsed annuity product is only available to members of the Provident Fund.
You may contact the NJMPF or Sanlam before retirement to request a quote showing what pension you can expect based on the amount you have saved, should you choose the fund annuity.