MIBFA Surplus Apportionment Information Booklet
This booklet provides detailed information on the surplus apportionment scheme for the Metal Industries Provident Fund (MIPF). It includes history, stakeholders, financial positions, and surplus allocation details as of April 1, 2008. Essential for former and active members of the MIPF.
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How do I fill this out?
To complete this booklet, you need to gather and verify your membership information. Follow the sections sequentially to ensure all required data is included. For further guidance, see the detailed instructions on this webpage.
How to fill out the MIBFA Surplus Apportionment Information Booklet?
1
Gather your membership information.
2
Review the history and stakeholder details.
3
Verify your financial position before surplus apportionment.
4
Check the surplus deemed 'improperly utilised by the employer'.
5
Complete the required sections and review the surplus allocation summary.
Who needs the MIBFA Surplus Apportionment Information Booklet?
1
Former MIPF members from 1 May 1991 to 31 March 2008 need this file to review their surplus allocations.
2
Active MIPF members as of 31 March 2008 need this file to understand their benefits and surplus allocations.
3
Members with unclaimed and unpaid benefits as of 31 March 2008 need this file to claim their benefits.
4
Trustees of MIPF require this file to ensure accurate surplus distribution.
5
Stakeholders in the surplus apportionment scheme need this file for transparency and compliance.
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What are the instructions for submitting this form?
Submit the completed form via email to info@mipf.org.za, fax to 123-456-7890, or mail to MIPF Office, 123 Fund Street, City, Country. Ensure all required sections are completed accurately and include your contact information for any necessary follow-ups.
What are the important dates for this form in 2024 and 2025?
Surplus apportionment scheme important dates for 2024 and 2025 will be communicated by the trustees. Stay updated to verify your entitlements and complete any required actions. Check the MIPF website regularly for announcements and deadlines.
What is the purpose of this form?
The purpose of this booklet is to provide transparency and detailed information on the surplus apportionment scheme for the Metal Industries Provident Fund (MIPF). Established as a defined contribution provident fund since 1991, the MIPF includes a significant number of former and active members. This document outlines the history of the fund, the stakeholders involved, and the method by which surplus funds are allocated as of April 1, 2008. By understanding this process, stakeholders can be sure of their entitlements and take necessary actions to claim their benefits. This booklet ensures accountability and compliance with the Pension Funds Second Amendment Act, 2001.
Tell me about this form and its components and fields line-by-line.
- 1. Membership Information: Includes details of former and active members relevant to the surplus apportionment.
- 2. Financial Positions: Details of the financial positions prior to and after the surplus apportionment.
- 3. Surplus Utilization: Sections detailing any surplus deemed 'improperly utilised' by employers.
- 4. Allocation Summary: Summary of the surplus allocation as of April 1, 2008, including prescribed minimum benefits for former members.
What happens if I fail to submit this form?
Failure to submit this form may result in missing out on your entitled surplus benefits.
- Loss of Benefits: You may lose out on your rightful surplus benefits if the form is not submitted on time.
- Non-Compliance: Non-compliance with the required submission may lead to legal and financial ramifications.
How do I know when to use this form?
- 1. Former Members: If you were a member of the MIPF between 1 May 1991 and 31 March 2008.
- 2. Active Members: If you were an active member of the MIPF as of 31 March 2008.
- 3. Unclaimed Benefits: If you have unclaimed and unpaid benefits as of 31 March 2008.
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