Pensioner increases
2026 Increase
MESSAGE FROM THE FUND’S ACTUARY: SEAN NEETHLING
The Fund was pleased to announce a pension increase of 4.0% to all our defined benefit pensioners and pooled annuity pensioners, effective 1 January 2026, which exceeds the Fund’s Pension Increase Policy of 100% of CPI. The increase will be pro-rata for pensions in payment for less than one year. In addition to this increase, a pensioner bonus of 100% of the December 2025 gross monthly pension was granted.
The Board of Trustees has continued to guide the Fund with diligence and integrity – from the successful onboarding of our new member trustee, Mrs Sweetlana Petersen, on 1 January 2025, to the constant focus on maintaining the Fund’s strong investment performance, competitive benefits and prudent governance. This was made possible by the strong investment return for the year ended 30 June 2025 and a healthy surplus in the Pensioner Account.
The Fund’s sound financial position enabled the Fund to grant both the increase and the bonus without compromising its financial position. Together, these benefits are equivalent in value to an increase of 167% of CPI to June 2025.
This reflects the Fund’s continued strength and prudent management.
Pension increase 2026 and bonus letter – English
Pension increase 2026 and bonus letter – Afrikaans
Pension increase 2026 and bonus Pooled Annuitant letter – English
Pension increase 2026 and bonus Pooled Annuitant letter – Afrikaans
Please remember
ALTHOUGH PENSIONERS RECEIVED DECEMBER 2024 AND DECEMBER 2025 BONUSES, PLEASE NOTE THAT THERE IS NO REQUIREMENT FOR THE FUND TO PAY BONUSES AND THERE SHOULD BE NO EXPECTATION THEREOF.
EFFECTIVE 1 MARCH 2026
The pension increase target was increased from 80% to 100% of CPI. The Fund’s pension increase policy is as follows:
Annually perform a review to target a pension increase of 100% of CPI effective 1 January, but based on CPI to the preceding 30 June (subject to affordability as determined by the Actuary having regard to investment returns), including the value of any bonus.
Every three years perform a catch-up review to increase pensions to 100% of CPI since the date of retirement, subject to the value of the notional pensioner account and affordability, as set out in the Pension Funds Act as amended.
The Trustees have the discretion to review and revise the pension increase policy from time to time based on the circumstances of the Fund, after consultation with the Actuary.
The Fund shall communicate the pension increase policy to members when it is established and whenever it is changed.
