Psspf Benefits

Benefits Summary

The fund is a defined contribution fund and provides benefits when members retire, terminate employment (by resigning, or on retrenchment or otherwise) or die before retirement.

RETIREMENT BENEFITS PROVIDED BY THE FUND

Normal

 

At your normal retirement age of 65, your benefit being equal to your Fund Credit, can be paid as

Retirement

 

a pension purchased from a Registered Insurer, as a cash lump sum or a pension plus a cash

 

 

lump sum.

 

 

 

Voluntary

 

With the Employer’s consent you may retire voluntarily from age 55.Your benefit, being equal to

Early

 

your Fund Credit can be paid as a pension purchased from a Registered Insurer, as a cash lump

Retirement

 

sum or as a pension plus a cash lump sum.

 

 

 

Ill-Health Early

 

If, on receipt of satisfactory medical evidence, the Employer and the Trustees decide that you are

 

 

Retirement

 

permanently incapable of efficiently performing your duties through infirmity of mind or body, you

 

 

 

 

will be entitled to retire at any time. You will be entitled to your Fund Credit, paid as a pension

 

 

purchased from a Registered Insurer, as a cash lump sum or as a pension plus a cash lump sum.

 

 

 

Late Retirement

 

With the Employers consent you may defer your retirement past normal retirement age but not

 

 

 

 

later than age 70. Contributions continue to be paid. Your funeral and disability benefits will

 

 

cease at normal retirement age of 65 but your group life cover will continue to age 70. At your

 

 

late retirement date, you will be entitled to your Fund Credit, paid as a pension purchased

 

 

from a Registered Insurer, as a cash lump sum or as a pension plus a cash lump sum.

DEATH / DISABILITY BENEFITS PROVIDED BY THE FUND

Death in Service If you die whilst in service and all contributions have been received by the Fund at the date of your death, your dependents will receive a lump sum of 2.5 times your Annual Fund Salary plus your Fund Credit.
   
Disability If you are disabled and all contributions have been received by the Fund at the date of your
  disability, and the claim is validated, you will receive a lump sum of 2.5 times your Annual Fund
  Salary plus your Fund Credit. Please note that your Capital Disability Benefit reduces by 10%
  per annum from age 56 and the benefit ceases at 65.

RESIGNATION BENEFITS PROVIDED BY THE FUND

If your employment is terminated for any reason, whether by your resignation, retrenchment or otherwise, excluding retirement, death or disability, you will receive your Fund Credit. This benefit may be taken in cash (after tax), kept in the Fund as deferred benefit or transferred to another approved retirement fund.

CONTRIBUTION RATES TO THE FUND
Member Member contributes 7.5 % of their monthly basic salary.
   
Employer Employer contributes 7.5 % of the member’s monthly basic salary
  The employer’s contribution includes the cost of death, disability and funeral benefits and
  administration fees.

FUNERAL BENEFIT PROVIDED BY MOMENTUM

Please note that with effect from 1 December 2010 the scale of benefits above will be increased for all deaths that occur on or after 1 December 2010 as follows:

Member, Spouse and Children 14 – 21R 20 000.00
Children 6 – 13R 14 000.00
Children 1 – 5R 10 000.00
Children 0-11 months including StillbornR 6 000.00

MANAGEMENT OF THE FUND

The fund is managed by a board of trustees consisting of employer and employee representatives. The trustees meet regularly to discuss investments, benefits and administrative matters pertaining to the fund. The members of the board of trustees are:

Chairperson: R o b e r t D u b e

Trustees: Bonginkosi Qwabe, Pakamisa Harold Mdineka,

Principal Officer: Peter Zibi

Cobus Bodenstein, Piet Mabaso, Anna Maoko, Michael

Masekoma, Hennie Myburgh, Sello Molepo, Jackson Simon,

Norman Ngobeni, Jonnes Hlathwayo, Marchel Coetzee,

Marius Kemp, Duduza Khosana (Independent), Costa

Diavastos, Bheki Mthembu, Tony Botes, Philemon Bhembe

Need Information or Confused about Something ?

Ask a Question

 

Sponsored Guide

Complete Guide to NSFAS Online Loan Application for South African Students (2025)

If you are a South African student looking to pursue higher education but are facing financial difficulties, the National Student Financial Aid Scheme (NSFAS) is one of the most accessible funding options available. NSFAS provides financial aid in the form of bursaries and loans to qualifying students at public universities and TVET colleges in South Africa.

This guide will walk you through everything you need to know about the NSFAS loan application process, from eligibility requirements to application steps and frequently asked questions.

📌 What is NSFAS?

The National Student Financial Aid Scheme (NSFAS) is a government-funded financial aid scheme aimed at helping students from low- and middle-income households to access tertiary education without the burden of upfront fees.

NSFAS offers both bursaries and income-contingent loans:

  • Bursaries: For eligible students who meet academic and household income criteria (especially for TVET and university students).
  • Loans: For students who do not meet all bursary criteria or who are pursuing postgraduate qualifications not funded under bursary schemes.

✅ Who Qualifies for an NSFAS Loan?

To qualify for an NSFAS loan (especially for postgraduate students or programs not funded under the bursary system), you must:

  • Be a South African citizen.
  • Be financially needy, with a household income of less than R350,000 per year.
  • Have a valid South African ID.
  • Be enrolled or accepted to study at a public university or TVET college.
  • Not be funded through another bursary program that covers all expenses.
  • Maintain satisfactory academic progress (returning students).

📚 Courses Funded by NSFAS

NSFAS primarily funds undergraduate qualifications, but certain postgraduate programs (e.g., PGCE, postgraduate diplomas in education, and professional courses like LLB) may be considered under the NSFAS loan scheme, not bursaries.

If you’re studying:

  • Undergraduate degree or diploma: You are likely eligible for a full NSFAS bursary.
  • Postgraduate study: You may qualify for a loan, depending on the course and funding availability.

📄 Required Documents for NSFAS Application

When applying, make sure you have the following documents scanned and ready:

  1. Certified copy of your South African ID or Smart Card.
  2. Parent(s) or guardian(s) ID documents.
  3. Proof of income (latest payslips, UIF, or affidavit if unemployed).
  4. Consent Form signed by your parent(s)/guardian(s) to allow NSFAS to verify income.
  5. Proof of registration or acceptance at a public institution.
  6. Academic transcripts (for continuing or postgraduate students).

🖥️ How to Apply for an NSFAS Loan Online

Step-by-Step NSFAS Online Application Process (2025)

  1. Visit the NSFAS Website

    Go to: https://www.nsfas.org.za

  2. Create an Account

    • Click on “MyNSFAS” and register your profile.
    • You’ll need a valid email address and South African cellphone number.
    • Choose a strong password and verify your account via email or SMS.

  3. Login and Start the Application

    • After registration, log in to your MyNSFAS account.
    • Click on “Apply” to begin a new application.

  4. Fill in Your Personal Details

    • Input your ID number, name, surname, and other details exactly as they appear on your ID.
    • Provide household income information and living arrangements.

  5. Upload Required Documents

    • Upload all supporting documents in PDF or JPEG format.
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  6. Submit Your Application

    • Review your application for accuracy.
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  7. Track Your Application

    • Log in regularly to check your application status.
    • You will be notified via SMS and email at each stage of the process.

🗓️ Important NSFAS Dates (2025)

  • Application Opening Date: September 1, 2025
  • Application Deadline: January 31, 2026
  • Appeals Period: February 2026 (if rejected)
  • Disbursement: After registration and approval

Note: Dates are subject to change; always confirm on the official NSFAS website.

💸 What Does the NSFAS Loan Cover?

NSFAS funding typically includes:

  • Tuition fees
  • Registration fees
  • Accommodation (if living away from home)
  • Meals and transport
  • Learning materials (e.g., textbooks)

For loans, repayment is only required once you start working and earn above a threshold (around R30,000 annually, but subject to change).

🔄 NSFAS Loan Repayment

Repayments are:

  • Income-contingent – you only repay when you can afford to.
  • Administered by DHET (Department of Higher Education and Training).
  • Interest-bearing, but interest rates are low and favorable.

You can also apply for a partial loan conversion to a bursary if you perform well academically.

🔁 How to Appeal a Rejected NSFAS Application

If your application is rejected, you may submit an appeal via your MyNSFAS portal:

  1. Log into your MyNSFAS account.
  2. Click on “Track Funding Progress”.
  3. If rejected, click on “Submit Appeal”.
  4. Upload any missing or corrected documents.
  5. Provide a clear explanation or motivation.

📱 NSFAS Contact Information

📝 Final Tips Before Applying

  • Apply early to avoid system overload near the deadline.
  • Use your own email and cellphone number (do not use someone else’s).
  • Double-check that all your documents are certified and legible.
  • Keep a copy of your submission confirmation for reference.

By following this guide, you can confidently apply for NSFAS funding and move one step closer to achieving your academic and career dreams—without the burden of immediate financial pressure.

 

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