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Military Pensions Act, 1976 (Act No. 84 of 1976)

Notices

Determination of Amounts for Purposes of this Act 2021

Notice 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 Government Notice No. R 11261 of 19 March 2021 is hereby withdrawn.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