Industry Recognition and Fund Performance
We extend our sincere appreciation to the employer who has remained consistent in paying
updated pension contributions. This commitment plays a pivotal role in securing the long-term financial well-being of our members. As a result, we have witnessed remarkable growth in member values over time, enabling many to retire with financial independence, and in most cases, as millionaires. Our Fund continues to strive toward achieving a Net Replacement Ratio of 75% at retirement for all members. We are proud to report that the Fund’s industry standing has improved
significantly. According to the Financial Sector Conduct Authority (FSCA), we have moved from
45th to 34th position out of 770 funds in South Africa, a testament to our sound management
and performance. In 2024, the Fund was honoured with the Best Asset Allocator of the Year award by the Association of Black Securities and Investment Professionals (ABSIP). This recognition reflects our ongoing commitment to transformation and inclusive growth in the financial services sector.
Strategic Growth and Transformation
In 2021, the Fund committed to increasing its investment allocation to Transformed Asset Managers from 10% to 70% by June 2025. We achieved this target before the end of the Financial Year. This strategic decision has proven that, with the right manager mix and a firm commitment to transformation, strong performance is not only possible, but also inevitable.
Growing Your Savings Pot (Two-Pot System) Members may access their Two-Pot Savings once per tax year, which runs between March and February every year. However, this withdrawal is not mandatory. We encourage members to withdraw only when truly necessary, as your savings pot will continue to grow with interest through monthly contributions. Let us all remember: your retirement savings are meant to sustain you well beyond your working years. Use them wisely and keep the long-term goal in mind. It is important to understand how death benefits are distributed upon a member’s passing. Section 37C of the Pension Funds Act ensures that these benefits: Do not automatically form part of the deceased’s estate. Are not solely governed by the member’s will or nomination form. Instead, the Board of Trustees is legally obligated to conduct a thorough investigation to identify all legal and factual dependants, as well as nominated beneficiaries. Benefits are then distributed in a fair and equitable manner, based on financial need, age, relationship, and level of dependency. This process can take up to 12 months, particularly if dependants are difficult to trace. Ultimately, Section 37C is designed to protect vulnerable beneficiaries, though it requires patience and careful administration.
Funeral Benefit – Update Your Beneficiary Form
Recent Legislative Changes
To align with requirements from our funeral benefit insurer, members must now designate two
beneficiaries eligible to claim in the event of their passing. We are working closely with the employer to ensure the smooth collection of updated beneficiary forms. If you have not yet submitted your updated form, we urge you to do so promptly to avoid delays in benefit processing during difficult times.

Effective 1 September 2024, the following legislative changes apply to divorce claims by annuitants:
Divorces finalised before 1 September 2024: No divorce claims can be made.
Divorces finalised on or after 1 September 2024: Divorce claims will be permitted.
For more information or clarity on this change, members are encouraged to contact the Fund’s Front Office.
Understanding Section 37C of the Pension Funds Act Accessing Your Benefit Statement
Members can access their benefit statements through the following methods:
Online via Member Portal
Visit www.fairsure.co.za Once logged in, you can view or download your statement based on your membership status.
For access to your login credentials, email info@kznmpf.co.za with your full name, date of birth, and service number, or call 031 322 9001.
Request by Email Send a request to statements@kznmpf.org including your service number.
In-person at the Fund Office

Visit our office for direct assistance:
Address: The Marine Building, 16th Floor, 22 Dorothy Nyembe Street, Durban,4001
We remain committed to the growth, protection, and responsible management of your retirement savings. Thank you for your continued trust and support.
Mr T Mketelwa
KZNMPF: Principal Executive Officer