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ABOUT US
Our Mission
The Municipal Gratuity fund (MGF) is committed to providing employees of municipalities with optimum retirement security and superior related benefits.
The Business of the MGF is to
- Manage financial contributions and assets with the purpose of maximising returns.
- Create and protect wealth for members.
- Render prompt and excellent service.
Values
Our members are our most valued asset and are treated with:
- Respect
- Equality
- Empathy
- Transparency
- Integrity
Board of Trustees
Executive Committee
Mr BG Fourie (Chairperson)
Ms WMM Mathiso (Deputy Chairperson)
Mr PJ Venter (Employee Member)
Cllr L Makhale (Employer Member)
Mr EC Alberts (Independent Member)
Mr JDG Venter (Independent Member)
Mr A.A Lubbe (Employee Member)
Cllr S Mashilo (SALGA/Employer Member)
Mr JH Grobbelaar (Employee Member)
Mr LJ Modiga (Employee Member)
Cllr KI Mojaki (Employer Member)
Mr KA Ramare (Employee Member)
Mr EC Smal (Employee Member)
Principal Officer
Mr MJD Jacobsohn (Chief Executive Officer)
Membership
The MGF is a dynamic defined contribution umbrella retirement fund with approximately 30 000 members.
Any new employee older than 16 and younger than 65 in the service of a municipality may join the Fund.
No proof of medical fitness is required.
Contributions
Members contribute at a minimum rate of 7,5% of pensionable salary which may be increased by the member once every 12 months.
Contract appointments
Members appointed on a contract basis must contribute at least 5% as employer contribution for administration cost and risk benefits and a minimum of 7.5% as member contribution. In this event it is better to obtain the advice of a tax expert to assist with the structuring of your package as well as your contributions in order to get the most tax efficient structure.
Employers
The standard contribution rate of employers is 22% of a member's pensionable income. 17% is credited directly into the member's Fund Credit and the remaining 5% is utilised to finance administration costs and risk benefits.