METAL INDUSTRIES PROVIDENT FUND The Metal Industries Benefit Funds Administrators (MIBFA), A Non Profit Company (NPC) that provides administration services for Benefit Funds in the industry. In this Fund, only the contributions are defined and benefits that are payable in terms of the Rules are payable as a lump sum. There is no monthly income on retirement. The member therefore carries the risk and is responsible for ensuring that s/he invests the lump sum wisely. The establishment of a Provident Fund came about as a result of negotiations between the Trade Unions and the Employers. On starting employment, workers can thus choose to belong to either the Engineering Industries Pension Fund or join the Metal Industries Provident Fund.
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