Disability Benefit
Protection against the unexpected. Comprehensive coverage for Permanent Total Disability.
Benefit Definition
Should a member be declared permanently disabled as defined under Rule 7, they will receive a lump sum benefit to replace lost future earnings.
The Board successfully negotiated a reduction in risk premiums. This means a larger portion of your contribution now goes towards your retirement savings.
Why this matters to you
Understanding the value of your coverage.
Replacing Earnings
Your ability to earn is your biggest asset. This benefit provides a substantial capital injection to replace the future income you can no longer earn due to illness or injury.
Dignity & Independence
The payout ensures you can cover unforeseen costs like home modifications or care, protecting your dignity and reducing reliance on family or state grants.
Comprehensive Coverage
You get BOTH the insurance payout AND your full Fund Credit. This maximizes the financial resources available to you during a critical life change.
Benefit Calculation
Required Documentation
- Official Member Claim Form
- Medical Reports (Specialist & GP)
- Detailed Job Description
- Sick Leave Records
Summary of Advantages
Substantial Payout
Receiving up to 4 times your annual salary as a lump sum provides a significant financial buffer.
Tax Favorability
Taxed as a retirement benefit, meaning the first R550,000 is tax-free, ensuring the money goes to supporting you.
Cost Reduction
Reduced risk premiums (0.291%) mean more of your monthly contribution goes to savings, boosting long-term wealth.