Question NW2561 to the Minister of Public Enterprises
10 January 2017 - NW2561
Alberts, Mr ADW to ask the Minister of Public Enterprises
(1) How many members does the (a) Transport Pension fund and (b) Transnet Second Defined Benefit Fund have currently; (2) How many members of the specified pension funds died in (a) 2014, (b) 2015 and (c) 2016; (3) What were the reported causes of death of each member of the pension funds in each specified year; (4) (a) How many members of each fund are currently (i) the main member and\or (ii) a dependent and (b) how many of the dependents are (i) spouses and (ii) children; (5) what was the growth (a) in the value and (b) in the surplus of each fund in the financial years (i) 2013-14, (ii) 2014-15 and (iii) 2015-16 NW2972E
Reply:
1. The Transport Pension Fund (“TPF”) has 338 active contributing members and 5 628 pensioners, and the Transnet Second Defined Benefit Fund (“TSDBF”) has 54 026 pensioners as at 31 October 2016.
(2) The number of members of the specified pension funds who died are recorded below:
|
Entity |
Referencing |
Financial Year |
Number of Deceased Members |
|
Transport Pension Fund |
a |
2013/14 |
181 |
|
b |
2014/15 |
184 |
|
|
c |
2015/16 |
212 |
|
|
Transnet Second Defined Benefit Fund |
a |
2013/14 |
4255 |
|
b |
2014/15 |
4114 |
|
|
c |
2015/16 |
4142 |
(3) The causes of death of each member are unknown.
(4) As at 31 October 2016, for the Transport Pension Fund, 3 113 pension members are main members, with 2 290 spouses and 221 children. For the Transnet Second Defined Benefit Fund 17 681 pension members are main members, with 36 180 spouses and 165 children.
(5) The growth of the specified pension funds is detailed below:
|
Entity |
Financial Year |
Market Value |
Surplus |
|
Transport Pension Fund |
2013/14 |
R8 373 million |
R2 903 million |
|
2014/15 |
R9 053 million |
R3 644 million |
|
|
2015/16 |
R9 366 million |
R4 325 million |
|
|
Transnet Second Defined Benefit Fund |
2013/14 |
R17 218 million |
R2 983 million |
|
2014/15 |
R16 757 million |
R3 145 million |
|
|
2015/16 |
R15 630 million |
R3 807 million |