Eskom Pension and Provident Fund

Welcome to the Eskom Pension and Provident Fund.

The Eskom Pension Fund is a Defined Benefit (DB) fund with defined employer and employee contributions. The Fund provides retirement, withdrawal, death and disability benefits to members, pensioners and their dependants. The Fund is registered as a privately administered pension fund in terms of the Pension Funds Act of 1956 and approved as a pension fund in terms of the Income Tax Act of 1962.

At the previous year-end (30 June 2010), the Fund had 39 671 members, the majority of which contribute 7.3% to the Fund with the employer contributing 13.5% of pensionable emoluments. As at 30 June 2010, the Fund had 34 243 pensioners. The market value of the Fund's assets as at 30 June 2010 was more than R57.8 billion.

The Fund is governed by a Board of Trustees. The Audit and Risk Committee, Human Resources and Remuneration Committee, Benefits Committee, and the Strategic Investment Committee are subcommittees reporting to the Board of Trustees.

The Board of Trustees comprises the following:

Seven Trustees appointed by the Eskom Board;
Two Trustees elected by pensioners;
Two Trustees elected by non-unionised members;
Three Trustees elected by the members belonging to trade unions.

The Fund currently has 84 full-time staff members to carry out the business of administering the Fund, including in-house investment management activities.

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