Over Age Refunds

Notice To All Employers
In The Construction Industry

The Employer’s Organisations and the Trade Union, being parties to the Council have concluded their deliberations on the directive by the Insurance Pension Commission (IPEC) to allow the Pension Fund to collect on its behalf with effect from 01 October 2016. Employers are therefore requested to remit pension deductions/ contributions directly to the Pension Fund.

RE: REMITTANCE OF PENSION DEDUCTIONS /CONTRIBUTIONS DIRECT TO THE CONSTRUCTION INDUSTRY PENSION FUND

We will update a pensioner’s record with any changes to personal details once every month before effecting the monthly payroll.

We will send to each pensioner a certificate of existence, by 31 March each year for subsequent completion and return to the Fund. Failure to return the completed certificate will result in pension payment being suspended.

We will acknowledge receipt of notice of death of a pensioner and start to process payment of dependents’ benefits, provided all details and documentation are at hand, within one month of receipt of the notice.

Applies to members who mistakenly continue to contribute after they were previously awarded a benefit in retirement (ill-health retirement, early retirement, normal retirement or late retirement). The rules do not permit them to be members of the Fund and therefore their contributions are refunded immediately on receipt and a service charge is levied against them.

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