ILL HEALTH RETIREMENT BENEFIT

The benefit is payable if a member retires from employment due to ill-health. Upon recommendation by a medical practitioner, and to the satisfaction of the member's employer, he/she can be awarded an early retirement benefit. The Ill-health retirement benefit is paid regardless of age or service, however the Fund should be satisfied that the member can no longer continue to work due to Ill-health.

Benefit due is 100% employee and employer contributions plus interest recommended by the Actuary from time to time, or the member's reserve in the Fund which ever is greater. The reserve is the pension purchased by the member's accumulated contributions (both employer and employee) adjusted by an age factor.
However, if the member is fifty (50) years old with 15 years pensionable service or fifty five (55) and above, he/she automatically qualifies for retirement.

Requirements For Processing Benefits


• A completed Advice of Withdrawal Form, Form BN1 should be submitted by the    employer.
• A copy of the member's National ID.
• A copy of the member's last payslip.
• Medical Report Form MR1 completed by a registered medical practitioner stating    whether the cause of illness is work related or not.
• Letter of pension options from MIPF will be sent to the member for him/her to    select pension option, should they qualify.
• A completed copy of the pension options letter to be  submitted to MIPF before    payment can commence.

 
   
 

Copyright © 2010 || MIPF || All Rights reserved || Design by Desonet IT Solutions