FSB delays surplus payoutsSam Tsiane

Seven years after parliament passed the surplus apportionment Act, 90% of the beneficiaries have still not received their money. Numsa has now asked Cosatu to intervene and approach the Financial Services (FSB) on the matter of the surplus payable to Numsa members in different sectors.

The FSB is the body tasked with overseeing surplus payouts from retirement funds.In the motor sector, "the fund has done everything that the Financial Services Board (FSB) asked them to do," says Elias Kubeka, Numsa's motor sector co-ordinator.

Despite this the FSB argues that what the funds intend paying out as surplus is too much and it may negatively affect the fund.

However the fund secured the opinion of actuaries and lawyers and all are of the view that the formula applied was fair.

Tyombo a trustee at Volkswagen and chairperson of the new Car Manufacturers Provident Fund says that the FSB has also delayed payouts at certain car manufacturing different funds.

However, with these funds, the FSB instructed them to recalculate the money to be paid. The FSB said the money to be paid to beneficiaries was too little.The engineering funds have had their own delays.

First there was a legal challenge saying that the funds did not fall under the Pension Funds Act. The FSB lost. But then the Act was changed making all bargaining council funds fall under the FSB.

Now Thulani Mthiyane, the Engineering Sector Co-ordinator, is criticizing the FSB for its proposals on the funds."It wants us to exclude those former members who have passed on since 2004," says Mthiyane.

The challenge is that in the engineering sector we are not likely to trace more than 25% of the former members. What will happen to the benefits that will not be claimed?

At some point, the government was talking about taking over the unclaimed surplus but did not state who will be beneficiaries of that fund.We hope to meet with the FSB in the second week of May.

We think that if we do not get any amicable solution, we will recommend mass action.Meanwhile the Engineering Provident Fund is setting up a call centre to be used by members to claim their surplus. Watch future Numsa News for details.

Ingabe sizozibona izimali ezisele ezingasebenzanga?Emva kweminyaka eyisikhombisa iphalamende laphasisa Umthetho Wokwabiwa Kwemali Esele, ama-90% abazuzimali abakayitholi namanje imali yabo.

Manje iNumsa icele iCosatu ukuthi ingenelele ithole ukuthi kungani kunokubambezeleka okungaka. Engxenyeni yezimoto, iyala i-FSB ukuthi Isikhwama sikhokhe imali esele. Ithi lokhu kuzolimaza ukuvikeleka kwesikhathi esizayo sesiKhwama.

Kwezobunjiniyela, i-FSB ifuna ukuthi Isikhwama (Metal Industries Provident and Pension Funds) sikhiphe amalungu angaphambilini asashona kusukela ngonyaka ka-2004.

Ngokushesha isikhwama sezobunjiniyela sizocela onke amalungu kanye namalungu angaphambilini ukuthi athumele imininingwane yawo ukuze afake izicelo zengxenye yawo zemali esele. Bheka i-Numsa News yesikhathi esizayo ukuze uthole imininingwane yokuthi kwenziwa kanjani lokhu.

Sal ons ooit die surplusse sien?Sewe jaar nadat die Parlement die wet deurgevoer het om surplusse aan fondslede toe te ken, het 90% van die begunstigdes nog nie hulle geld ontvang nie.

Numsa het Cosatu nou gevra om in te tree en uit te vind hoekom daar so ‘n vertraging is.In die motorbedryf het weier die Raad op Finansiële Dienste om die Fondse toe te laat om die surplus uit te betaal.

Die Raad sê dat Motorfondse (Autoworkers Provident Fund) te veel geld aan begunstigdes wil uitbetaal. Die Raad meen dat dit die toekomstige veiligheid van die Fondse in gevaar sal stel.

In die ingenieursektor wil die Raad hê dat die Fondse (Metal Industries Provident Fund & Metal Industries Pension Fund) voormalige lede wat sedert 2004 oorlede is, moet uitsluit.

Die fondse in die ingenieursektor sal alle lede en voormalige lede binnekort vra om hulle besonderhede in te stuur om aansoek te doen vir hulle deel van die surplus.

Hou Numsa News dop vir meer besonderhede oor hoe om aansoek te doen.

Na re sa tla pheta re bona tjhelete e setseng?Dilemo tse supileng ka mora ho ba palamente e fetise Molao wa kabo ya tjhelete e setseng, 90% ya batho ba lokelang ho e amohela ha ba eso ka ba fumana tjhelete eo ya bona.

Jwale Numsa e kopile Cosatu ho kena dipakeng mme e batlisise hore ke ka baka lang ho nang le tieho ena.Mokgeng wa makoloi, FSB e hanne hore Matlole a lefe tjhelete eo e setseng.

E re Matlole a Makoloing (Autoworkers Provident Fund) a batla ho fana ka tjhelete e ngata ho bao ba lokelang ho e amohela. E re hona ho tla beha kotsing tshireletso ya nakong e tlang ya Matlole.

Mokgeng wa boenjinere, FSB e batla Matlole (Metal Industries Provident le Pension Funds) a se ke a kenyelletsa ditho tsa kgale tse hlokahetseng haesale ho tloha ka 2004.

Haufinyane matlo a boenjinere a tla kopa ditho tsa ona ohle mmoho le bao ba neng ba le ditho ho romela dintlha tsa bona ba etse dikopo tsa karolo ya tjhelete ya bona e setseng. Sheba Numsa News ya nako e tlang ho fumana dintlha tsa ka moo o ka etsang hona.

National Provident Fund for car manufacturing sector workers launched at lastSam TsianeThe first Board of Trustees of the Car Manufacturers was held on February 12 in Tshwane at the National Bargaining Forum (NBF).

The scheme is expected to have more than 30 000 members.The car manufacturing sector is the last sector to establish a sector or industry scheme within Numsa.

However, the road is not going to be easy because there are people out there who are resisting change. "We depend on the strength of our members, the will of our trustees, and the drive by our shop stewards for its success," says Herman Ntlatleng, auto sector coordinator.

Members in Engineering, Motor and Tyre sectors pay far less for administration fees because the more members you have the less you pay.Numsa took the decision to have industry funds in 1993.

However, because of resistance from employers and sometimes by trustees, we could not achieve it. What makes it urgent now is that the government wants to introduce a national fund for all workers by 2010.

The only way a worker does not have to belong to this national scheme is if s/he belongs to an industry or sector scheme.

Source

Numsa News