gepf.or.tz : Retirement/Survivors/Invalidity/Withdrawal Benefits Fund Tanzania

Name of the Organization : GEPF Retirement Benefits Fund
Type of Facility : Retirement/Survivors/Invalidity/Withdrawal Benefits
Country : Tanzania

Official Website : http://www.gepf.or.tz/index.php

Retirement Benefits GEPF

This benefit is paid to a member whose employment ceases after contributing for at least 180 months or 15 years and attains a minimum voluntary retirement age of 55 years or any other shorter age specified in the Act.

Related : Public Service Pensions Fund Main & Supplementary Scheme Tanzania : www.statusin.org/4798.html

This benefit is payable to a member whose employment ceases after contrubting for atleast 180 months or 15 years and meets the following conditions :
** Attains a minimum voluntary retirement age of 55 years
** Attains a statutory shorter prescribed retirement age per the Act governing such category
of employment and the stipulated retirement age
** Retires on medical grounds due to sickness or disability
** Submits to the Fund the proof for retirement from the employer and duly fills in the respective claim forms

Rate of Pension and Gratuity for Qualifying Members :
A member who meets the qualifying conditions is entitled to a monthly pension and a lump sum payment. Section 24 of the Act provides two computation options :
** Monthly Pension = 0.75 X Specified Amount X 1/12
** Lumpsum = 0.25 X Specified Amount X 12.5
Where : Specified Amount = 1/580 X APE X MPS
– APE is Annual Pensionable Emoluments which represents the average salary enjoyed by the member 36 months preceding his retirement
– MPS is the Months of pensionable service

Person not Qualifying for Pension
The member shall be paid whichever is greater either :
** Gratuity equal to five times the specified amount; or
** Total contributions made by the employee and the employer during the entire service period plus interest as shall be determined by the Board.
Where : Specified Amount = 1/580 X APE X MPS
– APE is Annual Pensionable Emoluments which represents the average salary enjoyed by the member within the last 36 months preceding his retirement
– MPS is the Months of pensionable service

Survivors Benefits :

Survivors’ benefit is paid when a member dies while in service. The surviving dependants of the member are paid survivors pension where deceased member had contributed to the Fund for a minimum period of 180 months or 15 years.

Section 30 of GEPF Retirement Benefit Fund Act provides for payment of death and survivors benefits where a member dies while in service. These benefits are paid subject to the following conditions :
** A deceased member who had contributed to the Fund for a minimum period of 180 months or 15 years shall be paid both death gratuity and survivors pension.
** A deceased member who had contributed to the Fund for a period less than 180 months or 15 years will only be paid death gratuity.

Survivors Pension :
Where a member dies after contributing to the Fund for a minimum of 180 months or 15 years, the dependants of the deceased member shall be pad survivors pension.
Survivors Pension = 0.75 X Specified Amount X 1/12
** Death Gratuity = 0.25 X Specified Amount X 12.5
Where : Specified Amount = 1/580 X APE X MPS
** APE is Annual Pensionable Emoluments which represents the average salary enjoyed by the member 36 months preceding his death
** MPS is the Months of pensionable service
** Survivors pension is payable for a period of thirty six (36) months after the death of a member
** Dependants include spouse (Husband or wife), children and parents of the deceased member. Parents should be wholly depending on the member prior to the death and the children are those who are below 18 or 21 years if in full time education.

Invalidity Benefits :

Invalidity benefit is paid to a member who has been declared by the medical Board to be permanently invalid and incapable of any normal gainful employment. The invalidity benefit is paid as lump sum or pension depending on the number of years the member has contributed to the Fund before becoming invalid.
Section 31 of the Act provides for payment of invalidity benefit to a member who has been declared permanently invalid and incapable of any normal gainful employment by the medical Board.
A member qualifies to be paid invalidity benefit in two different modes depending the period contributed to the Fund.

1. A member who has contributed to the Fund for a minimum of 180 months or 15 years will be paid both gratuity and monthly invalidity pension regardless of his age until his death :
** Invalidity Pension = 0.75 X Specified Amount X 1/12
** Invalidity Gratuity = 0.25 X Specified Amount X 12.5
– Where : Specified Amount = 1/580 X APE X MPS
– APE is Annual Pensionable Emoluments which represents the average salary enjoyed by the member 36 months preceding his invalidity
– MPS is the Months of pensionable service

2. A member who has contributed to the Fund for a period less than 180 months or 15 years will only be paid invalidity gratuity :
** The invalidity gratuity equal to five times the specified amount; or
** Total contributions made by the employee and the employer during the entire service period plus interest as shall be determined by the Board.
– Where : Specified Amount = 1/580 X APE X MPS
– APE is Annual Pensionable Emoluments which represents the average salary enjoyed by the member within the last 36 months preceding his invalidity
– MPS is the Months of pensionable service

Withdrawal Benefits :

** Withdrawal benefit is paid to a member who resigns or his service to the employer is terminated and decides to withdrawal from the Fund in line with section 20 of GEPF Act.
** If the member resigns or his service to the employer is terminated and decided to withdrawal from the Fund in line with section 20 of GEPF Act, this member will be paid withdrawal benefit.
** The withdrawal benefit payable is the total contributions made by the employee and the employer during the entire service period plus interest as shall be determined by the Board.