Auto Workers Provident Fund: Working for YOU!

Feb 5, 2020

In this day and age, it’s wonderful to know that your dependants’ future is provided for, should anything (heaven forbid) happen to you. If you’re working in the motor industry, and have a job in Job Grades 1 to 6, the MIRF Auto Workers Provident Fund offers exceptional growth to our members.

To give you an idea of how well this fund performs, we’ll give you an example. If a member invested R10 000 in this fund in July 2007, this money would be worth R37 500 in July 2019! To you, our existing Auto Workers Provident Fund member, this should bring you the assurance that your personal investment offers you and your family remarkable returns!

Payment in event of Permanent Disability

As a fund member, your monthly contribution to this fund holds various benefits. If you become permanently disabled for some reason, and are no longer able to perform your job, you will receive a pay-out to the value of THREE TIMES your annual salary together with your total contributions. A Fund Credit Payment is always made in line with the Fund Rules.

In the event of your Death …

Should you pass away, your dependents will receive a lump sum payment of 3 times the value of your latest annual salary, as well as a Fund Credit Payment.

A simple Home Loan solution

There comes a time when you might want to upgrade or purchase a bigger home for your growing family. MIRF Auto Workers Provident Fund Members have the option of borrowing a minimum of R5 000, up to a maximum of 70% of their available Fund Credit. This offer is effected through Standard Bank Fully Guaranteed Loans, using Fund Credit as collateral for the loan. This withdrawal benefit has been a life-changer for countless members!

As with most pension and provident funds, the retirement aid for this fund is set at 65 years, with an early retirement option available from the age of 55.

Experience the MIRF Difference

The Motor Industry Retirement Funds (MIRF) currently has nearly 300 000 members. All five of our funds are registered with the Financial Sector Conduct Authority, and are subject to an annual audit. This gives members peace of mind, knowing that their hard-earned money is in the very best hands.

The MIRF Board of Trustees recently reviewed all investments, and have repositioned these investments to better align them to the market. We at MIRF have our hearts set on giving you the very best returns. Together, we will help you reap the long-term rewards of our concerted efforts!

Let’s work together

Handpicked financial management & motor industryspecialists ensure peace of mind.