Anglican Church of Southern African
CPSA Provincial Pension Fund
A Member's Guide to the CPSA Provincial Pension Fund
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Other important information
How will you know what your benefits are?
You will receive a personal benefit statement on joining the fund and at yearly
intervals. This will be provided to you approximately 6 to 8 weeks after the Fundís
Revision Date. The Fundís revision date is 1 January annually.
Can you take a loan against your pension fund?
Current Pension Fund legislation precludes the Fund from making personal or
other short term loans to members.
Are housing loans available?
Home loans are available from the Fund but the conditions under which loans may
be given are strictly controlled by the Pension Fund Act. These loans are secured
against the memberís commutation value in the Fund. Loans can only be given for
homes that are registered in the memberís name or that of the member and his/
her spouse. Loans are given for purchase of homes, renovations to homes owned
by the member or for settling bond finance through one of the registered banks.
Loans are required to be paid in full on date of retirement and in the event that
there is a balance outstanding on this date, the outstanding balance is deducted
from the commutation payable. Loans granted currently attract interest of
Prime Ė 2%. Members interested in a home loan should approach their Diocesan
Secretary for an application form.