Mibfa Statement

MIBFA is an umbrella organization that oversees various pension and provident funds for employees working in the metal and engineering industries. Their primary goal is to ensure that employees have access to reliable retirement benefits and financial security when they retire or face unforeseen circumstances. MIBFA manages several funds, including the Engineering Industries Pension Fund and the Metal Industries Provident Fund.

Understanding Your MIBFA Statement

MIBFA statements are provided to members to give them a clear picture of their retirement savings and other benefits. Here’s what you need to know about each type of statement:

1. Benefit Statement:

   • This document outlines the total value of your retirement savings in either the Engineering Industries Pension Fund or the Metal Industries Provident Fund. It provides detailed information about your contributions, employer contributions, and any investment growth over time.

   • Depending on your specific situation, the benefit statement may also show information about your pension or provident fund balance, how much has been accumulated, and the projected amount available at retirement.

2. Surplus Statement:

   • The surplus statement provides insight into any additional funds available in the MIBFA system. These surplus amounts are usually derived from funds in excess of the expected liabilities and are typically distributed or allocated to members in accordance with the rules of the specific fund.

3. Paid-Up Certificate:

   • If you leave your employment, you can choose to have your benefits in the pension or provident fund paid out, or you can opt to keep them in the fund as a “paid-up” status. A paid-up certificate reflects that you are no longer contributing to the fund but your benefits are preserved for future payouts when you retire.

4. Two Pot Value:

   • The Two Pot Value is a unique feature that allows fund members to divide their retirement savings into two separate pots: one for retirement and one for immediate access. This approach helps provide flexibility for members, giving them access to funds while still saving for their long-term retirement needs.

How to Access Your MIBFA Statements

To access your MIBFA statements, you’ll need to log in to the MIBFA portal. You can follow these simple steps:

1. Benefit Statement Login:

   • Visit the MIBFA Statement Login page.

   • Select either the Engineering Industries Pension Fund or the Metal Industries Provident Fund, depending on which one you’re a member of. You can find more details on their specific pages:

     • Engineering Industries Pension Fund

     • Metal Industries Provident Fund

2. Obtain Your PIN:

   • If you do not have a PIN to access your account, you can easily obtain it by contacting the MIBFA Call Centre at 0860 102 544. They will assist you in obtaining your PIN and provide any support you may need with the portal.

3. Navigate to Your Statement:

   • Once logged in, select the relevant option for your statement (Benefit Statement, Surplus Statement, Paid-Up Certificate, or Two Pot Value), and you will be able to download or view your statement directly from the portal.

Contacting MIBFA Support

If you’re unsure about your statement or have questions regarding your fund options, don’t hesitate to reach out to MIBFA’s support team. You can contact them through the following:

• Call Centre: 0860 102 544