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CRF Annual Report

Dear CRF Member,

In this publication we report back on activities for the year under review from 1 July 2018 to 30 June 2019. Please click here to access your latest Annual Report from the CRF.

Each article provides a summary of the year’s activities:

  • The Chairman highlights the impressive growth in the Fund’s membership and financial assets.
  • The Financial Statements and Audit Committee Report confirms that the Fund is in a sound financial condition.
  • The Investment Review is a true reflection of the challenging economy, but on the other hand highlights that the CRF was the top performing Fund for the period under review!
  • With changes in legislation, the Fund had a number of Rule Amendments which are listed under Legal and Technical and we included a short summary of the number and type of claims processed and paid out by the CRF.
  • Finally, the Actuary of the Fund confirms that the Member Share account is 100.3 % funded and the funding level of the Pensioner Account is 124.9%! This affirms the sound financial condition of the Fund.

WHAT’S HAPPENING RIGHT NOW

The 2020 Trustee roadshow kicks off on the 14th of February. The CRF team will conduct over 40 workshops nationally to bring you feedback in person on the topics covered in this Annual Report. Remember, in the past the Fund held one Annual General Meeting in Bellville where only a small number of delegates from each municipality were nominated to attend the AGM. Please make use of the opportunity to meet your CRF team and attend a workshop near you. You can contact our Member Centre on 0861 273863 for more information.

Exciting news! The CRF is opening a new office in March. We are super thrilled to share with you that the CRF is opening its first regional office in George on the 6th of March 2020. Further details will be published on the website and in our next member newsletter.

It’s time to review your risk benefit category and if you want to change, please submit your Change in category form to support@crfund.co.za before 30 April 2020. The risk benefit categories available in the CRF are covered in detail in our Member newsletters. To refresh your memory, please download the 2nd edition of the 2019 Member newsletter.

If you are near retirement or planning to terminate your employment, please contact a CRF Benefit Counsellor who will take you through the Annuity options available in the CRF. Remember if you leave the Fund before retirement, you can defer your benefit until you reach retirement age when you can choose to retire in the Fund.

The CRF introduced the Aggressive Growth Portfolio to members from 1 November 2019. Your latest newsletter explained the CRF investment portfolios in detail.

Finally, if you need financial advice, remember you have free access to Financial Advisor from Portfolium to assist you with choosing the right risk benefit category, investment portfolio for help with advice on how to plan your retirement.

We are only mid-way through the first quarter of this year, but we have definitely hit the ground running. We are looking forward to a very exciting 2020 in the CRF!

Your CRF Communication Team

Board of Trustees: Mr SA Mokweni (Chairman), MR JP Beukman, Cllr IR Iversen, Mr TA Loko, Cllr PJF Louw, Cllr C Meyer, MR AM Owen, MR ET Scott, MR WW van Gass, Mr JJ Wagner

Principal Officer: Mr Raymond Wentworth

Indemnity Statement: The Consolidated Retirement Fund for Local Government does not accept liability for any loss, damage or expense that may be incurred as a direct result or consequence of reliance upon the information in this document. If there is any conflict between the information in the document and the Actual Rules of the Fund, the Actual Rules of the Fund will prevail

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Indemnity Statement: The Consolidated Retirement Fund for Local Government & SASH Consulting Pty Ltd. do not accept liability for any loss, damage or expense that may be incurred as a direct result or consequence of reliance upon the information on this website. If there is any conflict between the information on the website and the actual Rules of the Fund, the Actual Rules of the Fund will prevail. Consolidated Retirement Fund for Local Government Reg No: 12/8/32689/2