Mibfa Provident Fund

The Metal Industries Provident Fund (MIPF), managed by the Metal Industries Benefit Funds Administrators (MIBFA), plays a pivotal role in securing the financial futures of employees within South Africa’s metal and engineering sectors. This fund offers a structured and reliable retirement savings plan, ensuring that workers are well-prepared for life after employment.

What Is the MIBFA Provident Fund?

Established on 1 May 1991, the MIPF is a defined contribution retirement fund. Unlike traditional pension schemes that provide monthly income, the MIPF offers a lump sum benefit upon retirement or withdrawal. This means that the amount you receive is directly linked to your contributions, the employer’s contributions, and the investment returns generated over time .​

Contribution Rates and Management

The contribution rates are as follows:​

  • Employee Contribution: 7.5% of pensionable remuneration

  • Employer Contribution: 8.10% of the total pensionable salary bill

These contributions are managed by a board comprising equal representation from both employers and employees, ensuring balanced governance and decision-making .​

Benefits Upon Withdrawal

Members who leave their employment before reaching the age of 55 are entitled to a withdrawal benefit. This benefit is a cash lump sum equal to the member’s full fund credit, which includes:​

  • Employee contributions with interest

  • Employer contributions

  • Profits of the fund

  • Less deductions for death, disability, and administration costs ​

Members also have the option to transfer their benefits to another approved retirement fund or leave it in the MIPF for future growth.​

Retirement Benefits

Upon reaching the age of 55, members are eligible for retirement benefits. For the MIPF, this benefit is provided as a cash lump sum equal to the full fund credit, including profits of the fund .

How to Access Your MIPF Statement

To monitor your retirement savings, you can:​

  • Online Portal: Access your statements through the MIBFA website.

  • Phone: Call the MIBFA helpdesk at 0860 10 25 44 to request your statement.

  • Email: Send a request to MIBFA, providing your full name, membership number, and other relevant details.

Contact Information

  • Phone: 0860 10 25 44

  • Email: surplus@mibfa.co.za

  • Address: 42 Anderson Street, Johannesburg, 2001

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