Delays in surplus payout

20 June 2012, Posted in Members

Numsa News April 2012 indicated that pensioners would be paid their surplus from the engineering retirement funds in April 2012 and former members in June 2012.

Current members would receive a letter notifying them of the amount credited to their retirement fund from May 2012 but will not receive a cash payout.

Pensioners did receive their payments without any hindrance.

However former members could not be paid in time due to the following:

• Actuaries could not finish with the calculation in time and

• the post office strike in Gauteng delayed the delivery of all the letters to former members because all were sent from Gauteng.

A lot of our members are panicking and think that forms have been lost and they are phoning the Call Centre or visiting it to enquire whether their forms have been received.

This is resulting in huge queues at the Mibfa Fund offices and the Call Centre is unable to answer so many calls.

We appeal to former members to be patient and to wait for a week or two while the post office clears the backlog of letters.

Please don’t phone the Call Centre (0861 504 455) until the beginning of July. If you have any queries, please go to a Numsa local office instead and they will phone the office for you.