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Rossing Pension Fund to pay over N$122m in surplus distributions

09/03/2018
by Rodney Pienaar
News

Rossing Pension Fund (RPF) has plans to pay out a total of  N$122 762 108 in surplus distribution to its former employees.

The first payments were faciliated in November last year, and the fund is determined to pay most of Rossing Uranium (Ltd) former employees, the principal officer of RPF, Ismael Kasuto told The Villager. 

“Note that in terms of the fund rules, former members are members who left the fund before 31 March 2012, the date on which the surplus was distributed and where such members have exited by way of resignation dismissal or retrenchment or who retired and took their full benefits out of the RPF,” he said.  

He added that members who retired in the fund do not qualify as former members while dependents of such members are in receipt of monthly pension from the RPF and have received their share of the surplus allocation by way of the 14. 0169 percent pension increase. 

According to statistics provided by the RPF, the total value of approved 1 027 claims for payment thus far is N$ 20 536 889.

The total of actual claims that have already been paid out are 579 while the number of logged claims still to be verified are 2 229.

Statistics further indicate that the total remaining surplus for distribution is N$ 102 225 219. 

“For former members that have not registered as yet, you are encouraged to obtain the Fund’s registration form and register so that such a claim is promptly attended to,” he said. 

He added that a reserve has been set up for payment of an additional amount on a first-come-first serve basis should a former member be in a position to submit the missing documentation at a later stage.