Government Employees Pension Law Amendment Act

This notice says the President assented to Act No. 21 of 2004 and that it is published for general information.

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Jurisdiction: South Africa
Instrument: Act or statute
Citation: Act 21 of 2004
Version: Undated source snapshot
Language: en
Updated: 11 Nov 2004
Official source: View official record ↗

annuity adjustments benefit payment timing benefits administration death gratuity employee benefits interest on late payment legislation amendment pension administration pension fund administration public sector retirement benefits retirement statutory amendment

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This notice says the President assented to Act No. 21 of 2004 and that it is published for general information. This section explains that bold bracketed text marks omissions and underlined text marks insertions, and it introduces an amendment to section 1. This section amends Section 1 of the Government Employees Pension Law, 1996. This provision amends section 21 of the Government Employees Pension Law, 1996 by adding a paragraph about amounts due to the Fund, including interest set by the Board after consulting the actuary. A member may notify the Board, on the Fund’s applicable form and subject to prescribed conditions, that a death gratuity should be paid to named beneficiaries and divided as stated in the form.

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Provisions of Government Employees Pension Law Amendment Act

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11
November 2004 No. 26978
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AI-assisted research summary: This notice says the President assented to Act No. 21 of 2004 and that it is published for general information.

11 November 2004 No. 26978 THE PRESIDENCY No. 1325 11 November 2005 It is hereby notified that the President has assented to the following Act, which is hereby published for general information:– No. 21 of 2004: Government Employees Pension Law Amendment Act, 2004. AIDS HELPLINE: 0800-123-22 Prevention is the cure 2 No. 26978 ~ ~~ Act No. 21,2004 GOVERNMENT GAZETTE, 1 I NOVEMBER 2004 GOVERNMENT EMPLOYEES PENSION LAW AMENDMENT ACT. 2004 GENERAL EXPLANATORY NOTE:
1
Words in bold type in square brackets indicate omissions from
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AI-assisted research summary: This section explains that bold bracketed text marks omissions and underlined text marks insertions, and it introduces an amendment to section 1.

1 Words in bold type in square brackets indicate omissions from existing enactments. Words underlined with a solid line indicate insertions in existing enactments. (English text signed by the President.) (Assented to 8 November 2004.) ACT To amend the Government Employees Pension Law, 1996, so as to provide for the correction of errors that occurred at the time of proclamation of the Government Employees Pension Law, 1996; to provide for amendments to the benefit structure; and to provide for matters connected therewith. B E IT ENACTED by the Parliament of the Republic of South Africa, as follows:- Amendment of section 1 of Proclamation 21 of 1996
1
Section 1 of the Government Employees Pension Law, 1996, is hereby amended
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AI-assisted research summary: This section amends Section 1 of the Government Employees Pension Law, 1996.

1. Section 1 of the Government Employees Pension Law, 1996, is hereby amended by- ( a ) the deletion in subparagraph (i) of paragraph (6) of the definition of “dependant” of the word “moment”; and (6) the substitution for the definition of “matters of mutual interest” of the following definition: 5 “matters of mutual interest” means matters of mutual interest [as 10 defined in the Public Service Labour Relations Act, 1994 (Proclama- tion No. 105 of 1994), and in the Education Labour Relations Act, 1993 (Act No. 146 of 1993), and all matters dealt with in this Law and the rules] contemplated in the Labour Relations Act, 1995 (Act No. 66 of 1995), and specifically excludes non-benefit matters;”. 15 Amendment of section 21 of Proclamation 21 of 1996
2
Section 21 of the Government Employees Pension Law, 1996, is hereby amended
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AI-assisted research summary: This provision amends section 21 of the Government Employees Pension Law, 1996 by adding a paragraph about amounts due to the Fund, including interest set by the Board after consulting the actuary.

2. Section 21 of the Government Employees Pension Law, 1996, is hereby amended by the addition to subsection (3) of the following paragraph: “(d) any amount, plus interest at the rate determined by the Board after consultation with the actuary, due to the Fund in respect of an amount for 20 which the Fund becomes liable under a guarantee furnished in respect of a member for a loan granted by some other person to that member in terms of the rules,”. 4 No. 26978 Act No. 21,2004 GOVERNMENT GAZETTE, 11 NOVEMBER 2004 GOVERNMENT EMPLOYEES PENSLON LAW AMENDMENT ACT. 2004 Amendment of section 22 of Proclamation 21 of 1996
3
Section 22 of the Government Employees Pension Law, 1996, is hereby amended
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AI-assisted research summary: A member may notify the Board, on the Fund’s applicable form and subject to prescribed conditions, that a death gratuity should be paid to named beneficiaries and divided as stated in the form.

3. Section 22 of the Government Employees Pension Law, 1996, is hereby amended by the substitution for subsection (1) of the following subsection: “( 1) If a gratuity is payable on the death of any member to the dependants of such a member or to his or her estate, that member may, on the [prescribed] applicable form of the Fund and subject to the prescribed conditions, notify the Board of his or her wish that the said gratuity be paid on his or her death to the beneficiaries mentioned in that form and be divided among such beneficiaries in the proportion mentioned in that form.”. Amendment of section 23 of Proclamation 21 of 1996 5 10
4
Section 23 of the Government Employees Pension Law, 1996, is hereby amended
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AI-assisted research summary: This section amends section 23 of the Government Employees Pension Law, 1996, replacing it with a section titled “Benefit not asset in insolvent estate.”

4. Section 23 of the Government Employees Pension Law, 1996, is hereby amended by substitution for section 23 of the following section: “Benefit not asset in insolvent estate
23
Any benefit under this Law payable
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AI-assisted research summary: A benefit payable or received under this Law does not form part of a sequestrated member’s, pensioner’s, or beneficiary’s insolvent estate.

23. Any benefit under this Law payable or received [under this Law] by any member, pensioner or beneficiary whose estate is sequestrated shall not form part of the assets in his or her insolvent estate.”. 15 Amendment of section 25 of Proclamation 21 of 1996
5
Section 25 of the Government Employees Pension Law, 1996, is hereby amended
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AI-assisted research summary: The Board must regularly authorize annuity increases, and may authorize allowances or bonuses to annuity recipients, subject to the Fund’s financial constraints and the actuary’s advice.

5. Section 25 of the Government Employees Pension Law, 1996, is hereby amended by the substitution for subsection (1) of the following subsection: “(1) Notwithstanding anything to the contrary in any law contained but subject to the provisions of this section, the Board shall within the financial constraints of the Fund, and acting on the advice of the actuary, regularly- 20 (a) authorize the increase of any annuity payable under this Law in order to ensure that the value of annuities is maintained by means of fair adjustments; and ( b ) authorize the payment of any allowance or bonus to any person who is in receipt of an annuity referred to in paragraph (a), in accordance with such rates or scales, in such circumstances, on such conditions and with effect from such date, which may be a date in the past, as the Board may determine, in terms of its pension increase policy.”. Amendment of section 26 of Proclamation 21 of 1996
6
Section 26 of the Government Employees Pension Law, 1996, is hereby amended
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AI-assisted research summary: This section amends the pension law to require benefit-related interest to be paid by the Fund when payment is late, and it excludes funeral benefits from that interest rule.

6. Section 26 of the Government Employees Pension Law, 1996, is hereby amended by- ( a ) the substitution for subsection (1) of the following subsection: “( 1) Notwithstanding anything to the contrary in any law contained, a benefit payable in terms of this Law shall be paid to the member, pensioner or beneficiary entitled to such benefit within a period of 60 days [after the date on which the Board receives a duly completed statement in the prescribed form or, if the Board receives such statement before the date on which a benefit is payable to the member or pensioner concerned in terms of this Law, within a period of 60 days after the date on which such benefit is so payable] from the benefit becoming payable to the member, pensioner or beneficiary, which 60 days shall be calculated from the day following the date on which the benefit becomes payable: Provided that a benefit shall become payable to a member, pensioner or beneficiary on the last day of service at the employer of that member or pensioner or the death of that pensioner.”; - . 25 30 35 40 45 6 No. 26978 Act No. 21,2004 GOVERNMENT GAZETTE, 1 1 NOVEMBER 2004 GOVERNMENT EMPLOYEES PENSION LAW AMENDMENT ACT, 2004 ( b ) the substitution for subsection (2) of the following subsection: “(2) [If a benefit is not paid within the period referred to in subsection (1) interest,] Interest shall be paid by the Fund to the member, pensioner or beneficiary on any part of the amount of the benefit not paid within a period of 60 days referred to in subsection (1) from the date on which the benefit became payable, at the rate prescribed, which interest shall be calculated from the day following the date on which the benefit became payable.”; and the addition of the following subsection: 5 “(4) Notwithstanding subsection (2), interest is not payable on funeral 10 (c) benefits.”. Amendment of section 27 of Proclamation 21 of 1996
7
Section 27 of the Government Employees Pension Law, 1996, is hereby amended
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AI-assisted research summary: This section amends section 27 of the Government Employees Pension Law, 1996 by replacing it with a new section titled “Declaration of certain former members as dormant members of the Fund.”

7. Section 27 of the Government Employees Pension Law, 1996, is hereby amended by the substitution for section 27 of the following section: “Declaration of certain former members as dormant members of the 15 Fund
27
If the membership of a member is for any reason terminated before he
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AI-assisted research summary: The Board may declare a member a dormant member if the member’s membership ends before retirement age and the Board thinks it is expedient, with the member’s request or consent, and if the termination was on or before 1 April 2003.

27. If the membership of a member is for any reason terminated before he or she attains the age at which he or she would have had the right to retire on pension, the Board may at the request or with the consent of the member, if the Board deems it expedient that his or her accrued pension interest in 20 the Fund be retained for him or her, declare him or her to be a dormant member of the Fund with effect from the date on which his or her membership was so terminated: Provided that his or her membership has been terminated on or before 1 April 2003.”. Amendment of section 30A of Proclamation 21 of 1996, as inserted by section 2 of 25 Act No. 35 of 2003 8. (1) Section 30A of the Government Employees Pension Law, 1996, is hereby amended by the substitution for subsection (2) of the following subsection: “(2) If a person contemplated in subsection (1) receives or has received any benefit in terms of the Special Pensions Act, 1996 (Act No. 69 of 1996), a 30 Demobilisation Act, 1996 (Act No. 99 of 1996), other than a benefit received as a dependant, the benefit payable by the Fund shall be reduced in accordance with the rules.”. ( 2 ) This amendment has retrospective effect to 31 March 2004. Short title and commencement 35
9
This Act is called the Government Employees Pension Law Amendment Act, 2004.
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AI-assisted research summary: This section states the Act’s title: Government Employees Pension Law Amendment Act, 2004.

9. This Act is called the Government Employees Pension Law Amendment Act, 2004.

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Government Employees Pension Law Amendment Act

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