The Mineworkers Provident Fund (MWPF) was formed in 1989, with a clearly defined vision and strategic objectives which include being the retirement fund of choice in the mining industry but most importantly providing retirement benefits to the most vulnerable workers of our society – the mineworkers. Our core values as a Fund are respect, Dignity and Legacy where we are driven by our desire to leave something of value for the next generations. This is based on the notion that just like other workers, mineworkers have the right to retire with dignity thus accounting for all the years of hard labour they put in.
Throughout the years we have focused our efforts on ensuring that we remain true to our founding principles of treating our members with respect and restoring their dignity.
In 2011, the fund moved key services in-house and in 2012 new leadership came on board, improving administrative processes and establishing effective corporate governance. The fund is now one of the few financial services companies that truly understands the needs of mineworkers.
To date we have approximately 100,000 active members, and operate servicing centres throughout South Africa and satellite offices in the Eastern Cape and Mozambique to better service our members. We have assets in excess of R28bn, and have never delivered a negative return to our members since inception.
The Fund of Choice
Through tailored solutions and member centred product development we have consistently outperformed both our target benchmark as well as a number of well-established balanced portfolios with a similar risk profile.
Our success can be attributed to our investment approach. The fund offers members a single default portfolio that seeks to deliver a real return of 4.5% above inflation (CPI+4.5%) over any consecutive five-year period at a minimum level of risk.
MWPF is one of South Africa’s oldest black retirement fund within the financial services arena and is amongst the top 10 largest funds in the country. Furthermore, as MWPF, we are proud recipients of the following awards:
2015 Best Practices Award
o IRF Merit Certificate Large Fund Category – Incubator Policy for Black Economic Empowered (BEE) Asset Managers.
o IRF Merit Certificate Large Fund Category – Implementation of a Comprehensive Strategy within a Commendable Cost to Members
2017 Best Practice Awards
o 2017 CFI Best Pension Fund Transparency South Africa Award
o 2017 IRF Gold Standard Large Funds Member Communication
o 2017 IRF Best Practice Winner Large Funds Investment Practice
We have only scratched the tip of the iceberg and have a lot of work ahead of us but we believe that as long as we continue to place our members at the core of what we do, we will always have the drive and passion to do better. The Fund continues to seek innovative and cost-effective ways of serving our members. We remain focused on creating the retirement fund of choice and sustainable returns and benefits.
I have already received my money and I am satisfied. But I am still worried, because many have not yet received."Eu já recebi meu dinheiro e estou satisfeito. Mas ainda estou preocupado, porque muitos ainda não receberam"
It's amazing that after I got retrenched my family was provided for thanks to the Dissmissal benefit I got from Mineworkers Provident Fund.
My Brother lost hope after his stroke, but now he was able to finish his house becasue of the Disability Claim paid out by MWPF.