Master Builders KwaZulu-Natal are the Administrators of the KwaZulu-Natal Retirement and Provident Funds. The benefits contained in the Funds administered were recently enhanced at NO ADDITIONAL COST to the member.

As a result, a significant portion of member contributions are allocated to retirement fund savings which earn investment returns to benefit the member.

Current benefits include:

Death Benefits of 5 X Annual Pensionable Salary and

Disability cover of 75% of Monthly Pensionable Salary

Funeral Cover

Death benefit for members over 65

Members aged between 65 and 70 still in service, will now qualify for a R 100,000 death benefit.

Retirement Annuities

Retirement means the end of a steady income, which is why having a nest egg is so important. If your annual income was R100,000 when you were working, you will need approximately R70,000 per year in order to maintain your lifestyle when you're out of the workforce. Without adequate savings, you would either need to continue working or cut back heavily on expenditure if you plan to rely on social grants.

Multiple surveys show that the main source of income for those who enter retirement without adequate savings is the government social grant system.
The single most important thing you can do is start saving early. The earlier you start saving, the more time you have for your investments to grow and recover from the market's inevitable downturns. If retirement is decades away, it may be difficult to care about it, but when you are young it’s precisely the right time to start saving for retirement. Even though it can be a challenge to save for the future, giving your savings those extra years to grow can make the struggle worth it, every little bit you save helps.

Contact us!

Compare your current fund benefits to our excellent offerings, contact our Employee Benefits Manager, Vishane Pramrajh or email vishane@masterbuilders.co.za to do a comparison.

Vishane Pramrajh | Employee Benefits Manager