SURPLUS APPORTIONMENT AND DATA VERIFICATION EXERCISE (2024)

FAQs

How long does Mibfa surplus take to pay out? ›

Taking into account the above it is expected that payment will only begin to be made within a 6 month period. Please Note: Qualifying Former members will receive a Bank Mandate form to confirm their banking details.

BENEFIT STATEMENT QUERY FORM

Form to be completed where identity details and service records are incorrect and returned to Metal Industries Benefit Fund Administrators, P O Box 7507, JOHANNESBURG, 2001 or e-mail recordmaintenance@mibfa.co.za.

In other words, surplus funds are the difference between the selling price and the outstanding balance. In California, the law states that any excess funds go to the most recent owner of the foreclosed property.

You will have to contact your bargaining council, or your industry's retirement fund administrator, to find out if you have surplus funds due to you.

Please enter your ID number and password below to display your benefit/surplus statements. Surplus Statements will only be issued to members who qualify. Click on the icon below to download. “Please either phone or ask your HR to phone the MIBFA Call Centre (Tel: 0860 102 544 ) to obtain your password.”

Are your referring to claiming your benefit, or to joining a provident fund? To claim your benefit, you must have resigned or retired from your employer. You must then complete a withdrawal notification form, and submit this, with required supporting documentation, to your HR department.

It will take anything between 4 and 16 weeks to effect the pay-out, provided your tax affairs are in order.

The Fund shall within 12 months of the death of the member, endeavour to trace all dependants/nominees and shall pay benefits to same or all of such dependants/nominees in proportions as may be deemed equitable by the Trustees.

South Africa will likely miss its primary budget surplus target for the 2023 fiscal year by R8. 2-billion, after revenue collections narrowly undershot estimates due to higher-than-anticipated value-added tax refunds.