Results of Member Survey

To determine the typical loss incurred by members of the occupational pension fund established on 23 December 1913, a survey was conducted of around 100  members no longer in the service of the sponsoring employer.

Approximately 75% of these members were retrenched before attaining the early retirement age of 60.

The average age of retrenchments was 52 after approximately 26 years of service.

This gives a pension factor of 50% of [Final Average Salary] payable from the date of retrenchment.

Based on an indicative “Final Average Salary” of $100,000, inclusive of member fund contributions, the value of the lawful benefit can be calculated as follows:

  Lawful Pension entitlement     Comparision of Benefit Entitlements  
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