About the UWRF

WHEN DID THE FUND COMMENCE?
The University of the Witwatersrand Retirement Fund commenced on 1 January 1995.

WHO MAY BELONG TO THE FUND?
All eligible employees of the University may choose to join the Fund.

An eligible employee is someone whose contract of employment is valid for a period exceeding one year, or someone whose employment is subject to the ongoing receipt of a grant sufficient to cover the contributions to the Fund.

HOW MUCH IS PAID INTO THE FUND ON MY BEHALF?
Members are not required to contribute to the Fund.

The University contributes 23.5% of your Retirement Funding Income (RFI) into the Fund each month in respect of retirement benefits, insured benefits and expenses.

You can structure your RFI within your gross remuneration package, subject to approved guidelines.  However, it must be understood that the lower your structure your RFI, the lower your current and future benefits will be

WHAT HAPPENS TO THESE CONTRIBUTIONS?
Each Member has a personal account in the Fund known as a Share of the Fund.

The University’s contributions of 23.5% of your RFI, minus the costs of insurance and expenses, are paid into your Share of the Fund on a monthly basis.

Your Share of the Fund is then invested with the rest of the Fund’s assets, and grows with Fund Interest as determined by your Investment Choice.

Fund Interest will vary from time to time, depending on the performance of the Fund’s investments.  It is possible that this may be negative over a period, although this is unlikely over the medium to long term.