Military Pensions Act, 1976 (Act No. 84 of 1976)NoticesDetermination of Amounts for Purposes of this Act 2021Notice No. R. 456 of 2021 |
Notice No. R. 456
28 May 2021
GG 44635
National Treasury
| 1. | The Minister of Finance has, in terms of the provisions of sections 1 and 5 of the Military Pensions Act, 1976 (Act 84 of 1976), read with section 3 (2) of the Act, determined that, with effect from 1 April 2020— |
| (a) | for the purposes of formula 1 as defined in section 1 of the said Act, factor A of the said formula shall represent an amount— |
| (i) | mentioned in the Schedule; or |
| (ii) | the amount as determined by the Director-General to a minimum of R 102 096.60 according to which one of the said amounts is the most advantageous to the member: |
| (b) | for the purposes of formula II, as defined in section 1 of the said Act, factor C of the said formula shall represent the amount of R14 911.80 and |
| (c) | the gratuity payable to the member who suffers from a pensionable disability which has in terms of the said Act been determined at 10 per cent or less shall be R9 942.00; |
| (d) | the gratuity payable to a member who suffers from a pensionable disability which has in terms of the said Act been determined at more than 10 per cent but less than 20 per cent shall be R19 882.00. |
| 2. | All members who are in possession of a three-year bachelor’s degree or a matriculation certificate and who have, immediately prior to 1 April 1998, received an amount as contemplated in paragraph 1 (a) of Government Notice No. R.1280 of 3 October 1997 shall receive an amount as set out in the Schedule. |
| 3. | Government Notice No. R 11261 of 19 March 2021 is hereby withdrawn. |
Mr TT Mboweni, (MP)
Minister of Finance