| 12.1 |
The following provisions are applicable upon the transfer of members of the Fund to a related fund, or conversely: |
| 12.1.1 |
If a person who was a member of a related fund, excluding a fund referred to in rule 12.1.2, becomes a member of the Fund immediately after the termination of his or her membership of the related fund, or after such an interruption in his or her service as the Board in its discretion may condone, the following provisions are applicable: |
| (a) |
The period of pensionable service of such a person in the related fund, is recognised to be pensionable service for the purposes of the Fund: Provided that if the pensionable emoluments of such person on admission to the Fund are higher than his or her pensionable emoluments on his or her termination of membership of the related fund, except if his or her employer requests otherwise, the period of pensionable service in the related fund of such a person is reduced in proportion to his or her pensionable emoluments at his or her termination of membership of the related fund to his or her pensionable emoluments on his or her admission to the Fund: Provided further that no such a proportional reduction shall take place if such a person's employer or such a person pays to the Fund the additional costs for the Fund as determined by the Board, resulting from the non-application of the reduction referred to in the proviso above. |
| (b) |
The related fund shall pay, subject to the provisions of subparagraph (c), to the Fund the amount that the related fund had at it's disposal in respect of the person at his or her withdrawal from the related fund together with interest as from the date on which the person ceased to be a member of the related fund up to and including the date on which the said amount is paid. |
| (c) |
If a member referred to in this rule 12.1.1 owes an amount to the related fund, the amount is deducted by the related fund from the amount referred to in subparagraph (b), and all rights of the related fund in respect of the amount owing pass on to the Fund and the member in question shall pay the amount due to the Fund in such a manner as determined by the Board and in such a case the provisions of rule 11.5 shall apply mutatis mutandis. |
| 12.1.2 |
If a person who was a member of the Associated Institutions Provident Fund, established under section 3 of the Associated Institutions Provident Fund Act, 1971 (Act No. 11 of 1971), or a related fund of which the benefits are determined on a similar basis as that in respect of the aforesaid fund, becomes a member of the Fund immediately after the termination of his or her membership of the funds referred to above, or after such an interruption in his or her service as the Board in its discretion may condone the following provisions apply: |
| (a) |
The Associated Institutions Provident Fund or related fund concerned pays to the Fund the amount standing to the credit of the member in such a fund. |
| (b) |
If the amount referred to in subparagraph (a) is less than the amount required by the Fund as determined by the Board in consultation with the actuary for the full recognition of his or her period of pensionable service in the Associated Institutions Provident Fund or related fund as pensionable service in the Fund, the member's pensionable service is reduced in the ratio which the amount referred to in subparagraph (a) bears to the amount that the Fund requires for the full recognition of such period as pensionable service. |
| (c) |
The member may request in writing that his or her period of pensionable service in the Associated Institutions Provident Fund or related fund be recognised as pensionable service in the Fund on condition that the difference between the amount mentioned in subparagraph (a) and the amount required for the full recognition of his or her pensionable service period in the Associated Institutions Provident Fund or related fund as pensionable service in the Fund, be paid by him or her to the Fund in which case the provisions of rule 11.5 shall apply mutatis mutandis. |
| 12.1.3 |
If a member of the Fund becomes a member of a related fund within six months of him or her terminating his or her membership of the Fund, the following provisions apply: |
| (a) |
No benefit is paid to the member on his or her termination of membership of the Fund. |
| (b) |
The Fund pays, subject to the provisions of subparagraph (c), to the related fund the amount that the Fund has at its disposal in respect of the member upon his or her termination of membership of the Fund, as determined by the Board after consultation with the actuary less the amount or reduced pensionable service as contemplated in rule 14.10, if any, applicable to the member, together with the interest as from the date on which the person ceased to be a member of the Fund up to and including the date on which the amount is paid. |
[Rule 12.1.3 substituted by rule 2 of Notice 399 of 2019, GG 42603, dated 31 July 2019]
| 12.2 |
If a person who was a member of an approved retirement fund becomes a member of the Fund, the Board may, in consultation with the actuary, approve special arrangements for the protection of such a member's accrued pension benefits. Such an arrangement may include the recognition of a previous period of service as pensionable service in terms of the rules, provided that the approved retirement fund pays an amount, as determined by the Board in consultation with the actuary, on behalf of the member to the Fund. |
| 12.3 |
If a member resigns, retires or dies as contemplated in rules 14.3.2, 14.4.1 or 14.5.1, he or she has the right to transfer his or her actuarial interest in the Fund to an approved retirement fund: Provided that such transfer shall be subject to the provisions of rule 14.4.1(b): Provided that the Employer shall for this purpose be deemed to be a participating employer of any approved and registered preservation fund. |
[Rule 12.3 inserted by Notice No. 499 of 11 April 1997]
Statistics Act, 1999
