Dear Pension Fund Member

In the words of Kofi Annan: “Knowledge is power. Information is liberating. Education is the premise of progress in every society, in every family.”

Let us journey with you to your ideal retirement, commencing with the sharing of knowledge.

Annual Benefit Statement and Fund Benefit Webinars

The Fund is currently finalising its annual benefit statements as at 31/12/2023 – you will be receiving these shortly in an email from InfoSlips.

We will be hosting benefits webinars to provide you with information regarding the benefits the fund offers you as is summarised on your benefit statement. During these sessions we will also show you how to read and interpret your statement.

The sessions have been scheduled as follows:

  • 6 May 2024, 10:00 to 12:00

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Microsoft Teams meeting

Join on your computer, mobile app or room device

Click here to join the meeting

Meeting ID: 344 137 075 701
Passcode: ARqhDQ

  • 7 May 2024, 12:00 to 14:00

 

Microsoft Teams meeting

Join on your computer, mobile app or room device

Click here to join the meeting

Meeting ID: 372 339 278 974
Passcode: B5qBo3

We hope that you will be able to attend either one of these two meetings. As always the recording and slides will be made available after the sessions.

Two-Pot Retirement System

During the budget speech delivered by Finance Minister Enoch Godongwana on 21 February 2024, it was confirmed that the new two-pot retirement system will be implemented on 1 September 2024. The details regarding the implementation are still being finalized.

We can however confirm that this DOES NOT mean that you can access 1/3rd of your fund value in cash as at 1 September 2024. All fund values built up in the fund before 1 September 2024 will be subject to the current legislation in place today. Future contributions (paid to the fund after 1 September 2024) will be split between your savings pot and your retirement pot.

A seeding amount will be made available in your savings pot, currently 10% of your fund value subject to a maximum of R30 000. Should cash be withdrawn from the savings-pot this will be taxed at your average tax rate and subject to a processing fee. The minimum you can withdraw will be R2 000.

You have received an invitation to attend Alex Forbes information sessions – these sessions fill up very quickly. Attached, please find a summary brochure prepared by Alex Forbes regarding the Two-Pot System. You can also access more information at https://mymoneymatters.alexforbes.com/.

You will therefore be receiving various invitations, from the Fund, to face to face meetings and webinars discussing how the Two-Pot system works. The first session has been arranged for 22 May 2024, 10:00 to 11:30. You can attend the session in person at the Ubuntu chambers, in the Madibeng Building or online:

Microsoft Teams

Join the meeting now

Meeting ID: 312 422 196 513

Passcode: e8Xj4d

Nomination forms

The Fund takes this opportunity to remind you to ensure that your nomination of beneficiary forms are up to date. Please note that these documents are Not saved by the Fund or Alex Forbes but that they are placed on your personnel record at UJ HCM.

If you have not updated these forms recently or if your circumstances have changed, please do so now. The completed, signed and dated forms can be returned to the Pensions Office or UJ HCM – remuneration and benefits – hrremuneration@uj.ac.za.

Alex Forbes Multi-Factor Authentication

Please take note of the following important message from Alex Forbes regarding their online platforms (AF Online and AF Connect) and the action you need to take to continue to use these platforms:

Dear Members

We’re excited to share an important security update with you.

We are committed to safeguarding our members when they use our online services. As part of our ongoing efforts to enhance security, we are introducing Multi-Factor Authentication (MFA) to our online platforms, effective 8 May 2024.

What is MFA? MFA adds an extra layer of protection to your digital user account with Alexforbes. When you log in, we will send a one-time pin (OTP) to the contact details on your digital profile. You will need to enter this pin (OTP) to login. This ensures that even if your password is compromised, unauthorised access remains unlikely.

Why is MFA important?

  1. Enhanced Security: MFA significantly reduces the risk of unauthorised access.
  2. Protection Against Phishing: Even if someone obtains your password, they won’t be able to log in without the OTP.
  3. Peace of Mind: Knowing that your account enjoys enhanced security provides you with extra reassurance that Alexforbes prioritises safeguarding your information.

Action Required:  

Please review your contact details (email address or mobile number) on your digital profile. If they are outdated or incorrect, update them promptly to ensure seamless login.

Follow these easy steps to review and, if necessary, update your email address and mobile number:

  • Log into your digital profile
  • Click on Details
  • Click on Contact details
  • Review your mobile number & email address
  • Click on Edit if necessary
  • Make relevant changes
  • Click on Update

If you do not ensure these details are correct urgently, you will not be able to log in until we manually update your contact details at your request.

Should you have any queries, please do not hesitate to contact us.

As always, take care!

Regards

Evette