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SOUTH AFRICAN NAVY FUND
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PURPOSE OF THE NAVY FUND
The purpose of the Navy Fund is to provide benefits to its members
and their dependants and to act to the advantage of the SA Navy.
(Together we can do more) .
MEMBERSHIP
Membership of the SA Navy Fund is restricted to the following
categories:
- All Naval uniformed members,
- Gymnasium Recruits,
- PSAP serving permanently within the Navy structure and
- SA Naval Reserve members.
Pensioners (uniform and PSAP) and former members of the SA Navy,
qualify for limited membership (only entitled to holiday facilities and
the Navy News magazine) at a reduced membership fee and the SA Navy Fund
Continuation Umbrella policy.
WHAT DOES MEMBERSHIP OF THE NAVY FUND OFFER YOU
At present, the Navy Fund offers the following benefits to its
members:
- Group Life assurance. #
- Group Funeral assurance. #
- Affordable holiday facilities. #
- Gratuity at retirement. #
- Grants for tertiary education for members’ children. #
- Life assurance and short-term insurance scheme. #
- Extended family benefit plan #
# Applicable to serving uniform members, Reserve Force
members and PSAP.
GROUP LIFE ASSURANCE
In the event of a member’s death, an amount of R22 500-00 is payable
iro life assurance.
GROUP FUNERAL ASSURANCE
There are members of the SA Navy who are under the impression that
funeral expenses relating to their dependants are also paid for by the
State. This is NOT the case. The following benefits are offered
by the SAFRICAN Group Funeral scheme:
| Member |
R18 500-00 |
| Spouse |
R18 500-00 |
| Child 14 – 21 yrs |
R18 500-00 |
| 6
– 13 years |
R10 000-00 |
| 1
– 5 years |
R
3 000-00 |
| 0 – 11
months |
R 2 500-00 |
| Stillborn |
R 2 500-00 |
(Stillborn after 26th week of pregnancy)
HOLIDAY FACILITIES
At present, the Navy Fund has timeshare units in the following
provinces :
Limpopo : Mabalingwe Nature reserve (Bela-Bela), Northwest : Dikhololo
(Brits), Magaliespark (Brits) Mpumalanga : Waterberry Hill (Hazyview),
Sabie River Sun (Sabie)
KwaZulu Natal : North coast: Chakas Rock
South coast: St Michael’s Sands & Suntide Illovo
Central Drakensberg : Champagne Sports
Western Cape : Beacon Island resort (Plettenberg Bay), Formosa Bay
Villas (Plettenberg Bay), Pine Lake Marina (Sedgefield), Garden
Route Chalets (Sedgefield), Knysna Chalets (Knysna), Perna-Perna (Mossel
Bay), Strand Pavilion (Strand), Hermanus Beach Club.
West coast: Club Mykonos and Port Owen.
Inland : Avalon Springs (Montagu).
Eastern Cape : Sunshine Bay Beach Club (Jeffrey’s Bay), Brooke’s Hill
(P.E.).
GRATUITY AT RETIREMENT
When a serving member retires, or has to retire due to medical reasons,
a gratuity of R50-00 for every full year of continued membership of the
Navy Fund is awarded. In these instances, an extra amount of R100-00 is
paid to the parent unit of the member, if a farewell function is
organised for the member. A formula is used to determine the gratuity
for members leaving the SA Navy by means of Exit Mechanism
* Per family member, with maximum of 6 members per
policy. (Only 1
policy per principle member).
# Waiting period = 6 months.
$ Waiting period = 12 months
UMBRELLA FUNERAL POLICY
The SA Navy Fund has entered into an agreement with Safrican
Insurance Co Ltd to extend the funeral cover for Navy Fund members who
have retired (and did not join the Reserve Force), exited by means of a
package, i.e. MEM, pensioners and Naval Reserve members who have reached
the age of 65.
|
Benefit choices |
A |
B |
C |
|
Member |
R5 000 |
R10 000 |
R18 500 |
|
Spouse |
R5 000 |
R10 000 |
R18 500 |
|
Children 14 – 21 |
R5 000 |
R10 000 |
R18 500 |
|
Children 6 – 13 |
R2 000 |
R5 000 |
R10 000 |
|
Children 1 – 5 |
R1 000 |
R3 000 |
R3 000 |
|
Children 0 -11
months |
R1 000 |
R1 250 |
R2 500 |
|
Stillborn |
R1 000 |
R1 250 |
R2 500 |
|
Rate per month |
R8.45 |
R15.60 |
R23.50 |
To qualify for the benefit, a member will be required to remain a
member of the Navy Fund as a former member of the SA Navy, at a rate of
R72-00 per year, payable in January of each year in advance or R6-00 per
month from February to December. Members will receive six copies of the
Navy News magazine annually and will be entitled to make use of
timeshare accommodation.
A paid-up certificate will be issued when the principal members
passes away before the spouse. No further premiums will be payable and
the benefit, as selected on the original application, will be paid when
the spouse passes away.
CONTACT NUMBERS
The following telephone numbers are available between 08:00 and 15:00
Mondays to Fridays. For further information, call:
- General Manager: 012 - 339 – 4226
- Secretary : 012 - 339 - 4246
- Facsimile : 012 - 339 - 4230
INTRANET
Full details on the SA Navy Fund are also available on the INTRANET.
The SA Navy’s web page is available under
http://sanweb.navy.mil.za:8080/navy/ Click on NAVY FUND under
Quicklinks.
E-MAIL
You can send an e-mail to the Navy Fund, using the e-mail address
navy.fund@sanavy.co.za
For more information on the SA Navy Fund,
please write to:
SA NAVY FUND
PO BOX 6966
PRETORIA
0001
This information is valid as at 20 July 2009
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