Question:
my father has worked for Iscor vanterbalipark for 30 he has never get any thing from surplus please help, if any information on how to get the surplus fund please let me know.
Answer:
Frank, Please note the distinction between a retirement fund benefit and a surplus. The retirement fund is paid out on resignation or retirement. A surplus is paid if there is in fact a surplus in the retirement fund, and only to qualifying fund members. Surpluses are typically distributed among members who did not receive their full benefit when they left the fund. If your father believes there is a surplus apportionment due to him, then he needs to contact the administrator of the fund and make the relevant enquiries there. Iscor Retirement and Provident Fund phone number: 012 424 8800.
