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The following definitions may assist you in understanding this Guide.
Administrator: This is the organisation chosen by the Fund to provide the
specialised administration services required by the Fund. The Administrator is
Liberty Specialised Corporate Consultancy, a division of Liberty Group Limited
Reg. No. 1957/002788/06 an authorized Financial Service Provider in terms of the
FAIS Act (License No. 2409).
Dependant: This is your spouse either by law, by customary union or by religious
tenet; your children, including adopted children; anyone for whom you are legally
liable for maintenance and anyone you are actually maintaining at the time of
Fund Salary: This is your annualised basic salary. Your Employer may also decide
to include any other amounts earned such as allowances and bonus. In general,
however, your Fund Salary will normally be less than your total remuneration
Board of Trustees: This is the body established to manage the business of the
fund. The Trustees make all the decisions on behalf of the Fund. The Rules make
provision for at least 50% of the Trustees to be elected by Members of the fund.
Due to the unusual structure of the Church, Trustees are elected by house.
At present the Trustees of the Fund are as follows:
|Most Revd T C Makgoba||Chairperson and Bishopís representative|
|Rt Revd D Bannerman||Bishopís representative|
|Revd L Bank||Retired member representative|
|Revd Adv E Dengler||Retired member representative|
|Revd R Johnson||Member representative|
|Ms D Edrich||Member representative|
|Dr T Seoka||Synod elected Trustee|
|Adv R Bracks||Synod elected Trustee|
Revision Date: This is the date each year on which the details of the Fund, the
Dioceses and its Members are verified. At present it is 1 January each year.
Share of Fund: This is each Memberís share of the distributable value of the entire
Fund and basically consists of the following:
(i) contributions made by yourself and on your behalf by your Diocese, less the
costs of Fund administration and risk benefits which will include all statutory
(ii) any amount transferred into the Fund by yourself from any other approved
(iii) any voluntary contributions paid by yourself into the Fund,
(iv) the investment growth on all of the above.