Contributions

Contributions to the Fund are made by both members and their respective employers in the following percentages:

Alternative retirement contribution arrangement

The NTRF provides flexibility to employers that want to implement a contribution rate lower than the default arrangement of 24%.

Members at employers who have an alternative contribution arrangement will make no member contributions. The employer contributions of 16% of pensionable salary will be applied as follows:

Retirement savings: 13.75% of pensionable salary
Death and disability benefits: 2% of pensionable salary
Fund expenses: 0.25% of pensionable salary

Members who are entitled to benefits as described in the Rules of the Fund, should ensure that both their member and employer contributions are paid in accordance with the Rules.

To what pot will contributions be allocated?

One-third of the total contributions will go to the Savings Pot. Two-thirds will go to the Retirement Pot. No contributions will go to the Vested Pot, it will only grow with interest.

Can I transfer money from a previous fund into the NTRF?

Yes. If you belonged to a Pension or Provident Fund with your previous fund or if you have a Preservation Fund you may transfer your money in that fund to the NTRF. You can’t transfer from a Retirement Annuity to the NTRF.

The amount you transfer will be credited in full to your Accumulated Retirement Savings. The transfer will be tax-free.

Your Retirement Pot in the previous fund will be allocated to your Retirement Pot in the NTRF.
Your Vested Pot in your Previous Fund will be allocated to your Vested Pot in NTRF. However, in some Funds, members had a Vested and Non-Vested share in their Vested Pot. If you do not lose your Vested Share when transferring from your previous fund (please check this with your previous fund), your Vested Share will be allocated to your Vested Share in your Vested Pot in the NTRF and your Non-Vested Share in your previous fund will be allocated to your Non-Vested Share in your Vested Pot in the NTRF. However, you may elect to transfer your Vested Pot in your previous fund to your Retirement Pot in the NTRF.
Your Savings Pot in your previous fund will be transferred to your Savings Pot in the NTRF.

However, if you transfer your Vested Pot or Savings Pot from your previous fund to your Retirement Pot in the NTRF, you will NOT have access to that money before retirement once transferred to the Retirement Pot and you cannot transfer back from the Retirement Pot to the Savings Pot or Vested Pot. This substantially reduces access to your money in an emergency and a lump sum portion at retirement.

Pot in my previous Fund	To what pot can it be transferred in the NTRF
Savings Pot	Savings Pot or Retirement Pot
Vested Pot	Vested Pot or Retirement Pot
Retirement Pot	Retirement Pot