HGPF Statement Services

By: Hgpf  11-11-2011
Keywords: Local News, Housing Loans, Tax Information

Good Governance for Retirements Funds

19th of March 2010

Interest rate increase on Housing Loans

8th of June 2010

Death Benefits Distribution

29th of June 2010

Taxing early withdrawals

29th of July 2010


19th of November 2010


2nd of February 2011

Tax Information

11th of February 2011

Proposed Interim Retirement Reforms

2nd of March 2011

Where has the retirement law gone?

24th of June 2011

Sanlam calls for sea change in retirement industry

11th of August 2011

11% Fund 10% Trust

Every member receives a unique number, which is based on his/her identity number. Twice a year each member receives a personal benefit statement showing his/her share of the fund. The statement gives you a monthly breakdown of contributions, costs, interest and retirement savings.

Every Participating Employer will also receive a benefit statement twice a year reflecting the total contributions paid for all members, the value of all his/her employees benefits and any the value of benefits paid.

Typical example of a member benefit statement:

Keywords: Housing Loans, Local News, Tax Information

Other products and services from Hgpf


HGPF Contribution Services

This contribution rate needs to be negotiated with your employer but should always cover the total costs for death, disability and funeral benefits as well as the general administration charges. As a member you will pay a minimum 7.5% of your earnings each month into the fund. Your employer must pay not less than 7.5% of each member’s earnings to the fund.


Housing Loans

In terms of the Pensions Fund Act, Retirement Funds are allowed to lend money to their members for the sole purpose of housing. The loan must be for housing and must be accompanied by an acceptable Quotation and confirmation of affordability. The minimum rate of interest that can be charged on these loans is prescribed by the Income Tax Act. An administration fee of R10 is charged for the operation of this Scheme.