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Every employer with 25 or more employees is obliged to join and contribute to the Fund. An employer with less than 25 employees may join if they so wish.
Every employee who is aged less than 60 years and is employed in the mining industry is required to join the fund within three months of being employed by an employer who is or should be a member of MIPF.
The benefits can be
- Retrenchment Benefit
- Retirement Benefit
- Early Retirement Benefit
- Normal Retirement Benefit
- Late Retirement Benefit
Full monthly pension option
One third commutation plus reduced monthly pension
- Full monthly pension on Joint and survivorship monthly pension
- One third commutation plus reduced joint and survivorship monthly pension