The Eskom Pension and Provident Fund (EPPF) provides retirement fund administration services for the members of the EPPF. The membership of the EPPF comprises in-service members, deferred pensioners, pensioners and beneficiaries. In-service members join the EPPF as part of the conditions of service of their participating employers and proceed to become deferred pensioners or pensioners during various life stages. The EPPF pays benefits to qualifying beneficiaries in the event of the passing away of an in-service member, pensioner or deferred pensioner.
The EPPF is managed by a Board of Trustees, whose duty is to:
- Ensure that proper registers, books and records of the operations of the EPPF are kept, inclusive of proper minutes of all resolutions passed by the Board;
- Ensure that proper control systems are employed by or on behalf of the Board;
- Ensure that adequate and appropriate information is communicated to the members of the EPPF informing them of their rights, benefits and duties in terms of the rules of the EPPF;
- Take all reasonable steps to ensure that contributions are paid timeously to the EPPF in accordance with the Pension Funds Act;
- Obtain expert advice on matters where Board members may lack sufficient expertise; and
- Ensure that the rules and the operation and administration of the EPPF comply with the Pension Funds Act and all other relevant legislation.
The Board delegates the day-to-day operations of the EPPF to the Executive Management of the EPPF.