Anglican Church of Southern African

CPSA Provincial Pension Fund


A Member's Guide to the CPSA Provincial Pension Fund


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Definitions

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 your death.

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 package.

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:

NameRepresenting
Most Revd T C MakgobaChairperson and Bishopís representative
Rt Revd D BannermanBishopís representative
Revd L BankRetired member representative
Revd Adv E DenglerRetired member representative
Revd R JohnsonMember representative
Ms D EdrichMember representative
Dr T SeokaSynod elected Trustee
Adv R BracksSynod 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 expenses,

(ii) any amount transferred into the Fund by yourself from any other approved Retirement Fund,

(iii) any voluntary contributions paid by yourself into the Fund,

(iv) the investment growth on all of the above.





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