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.

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