ILL HEALTH RETIREMENT BENEFIT

This benefit is payable if a member leaves employment due to ill-health. Upon the recommendation of a registered medical practitioner, and at the satisfaction of the member’s employer, he/she can submit a pension claim together with a medical report to the Fund for processing. The Ill-health retirement benefit is paid regardless of the member’s age or length of service.

The benefit due is the total employee and employer contributions, plus accumulated interest. The interest is recommended by the Actuary from time to time, based on the performance of the Fund’s investment assets. However, if the member is between the ages of fifty (50) and fifty-four (54), and has contributed to the Fund for at least fifteen (15) years, or is above the age of fifty-five (55), the Fund Rules provide for such a member to be introduced on pension.

Requirements for Processing Benefits

• An Advice of Withdrawal Form (Form BN1) should be completed by both the employer and the member, and be submitted to the Fund for processing.
• A copy of the member’s National Identification Document (National ID Card, Valid Passport, or Driver’s License)
• A copy of the member’s last payslip showing year-to-date figures must be submitted for tax assessment purposes.
• Medical Report Form (MR1) completed by a registered medical practitioner stating whether the cause of illness is work related or not.
• If the member has already qualified for retirement, the Fund will issue a letter of pension options to enable the member to select the pension option of their choice.
• After selection of the pension option, a completed copy of the pension option letter and BN2 Form (used to capture a Retiring Members’ Personal Details) should be submitted to MIPF before payment can commence.