Death in Service Benefit
If a member dies in service before attaining Normal Retirement Age and is survived by a Spouse or other Dependants they shall be entitled to a funeral benefit of three (3) times member’s pensionable salary and death in service benefit of two (2) times pensionable Annual Salary.
Requirements:
- Death Notification Form
- Original Death Certificate
- Surviving Spouse / Dependants contact details (address,email,contact number)
- Copy of marriage certificate or 3 Affidavits from the surviving Spouse,surving spouse’s family and the deceased members’ family
- Clear Banking details (in the case that members were contributing in both USD and ZWL we require both USD and ZWL banking details)
Resignation / Dismissal / Retrenchment Benefits
If a member leaves employment due to resignation or withdrawal before his / her retirement age he / she qualify to be paid a withdrawal benefit. A lump sum equal to his / her contributions plus interest as at date of resignation or dismissal plus an additional equal to the Employer nett contributions plus interest. The member portion only is subject to TAX.
Requirements:
- Notification of Withdrawal Form
- Copy of ID
- Last payslip with Year to Date values for members’ tax calculation
- Member Contact Details
- Clear Banking details (in the case that members were contributing in both USD and ZWL we require both USD and ZWL banking details)
Retirement Benefit
Early Retirement
When a member leaves employment after reaching the prescribed early retirement age of fifty five (55) and the employer so permits he / she is entitle to pension based on their accumulation credit as at early retirement date.
Normal Retirement
This is when a member chooses to retire on the first day of the month following or coinciding with his / her 65th birthday.
Late Retirement
This is when a member continues in service for a further period but not beyond his 70th Birthday and all contributions shall continue to be payable. He/ she will be entitled to a pension calculated base on the accumulated credit as at date of late retirement.
Requirements for Processing Retirement Benefits:
Requirements for Processing Retirement Benefits:
- Notification of Retirement Form
- Copy of ID
- Member Contact Details
- Clear Banking details (in the case that members were contributing in both USD and ZWL we require both USD and ZWL banking details)
