Pension Fund Rules & Application Forms

Download the rules of the Clothing Industry Pension Fund as well as application forms.

Pension Fund Benefits

Retirement Benefit

Early Retirement Date

A member who attains the age of fifty five (55) years may retire from the service of the Employer on the first day of any month prior to the normal retirement age. Amount available to secure the pension shall be the total amount in the Accumulation Account in respect of that Member.

Normal Retirement Date

Member shall be entitled to a pension secured on his/her behalf during his/her period of Membership.

Late Retirement Date

If services of Member are to be retained after normal retirement date, then retirement date is deferred for a period not exceeding five years. Member is not eligible to continue as a contributing member of the Fund after attaining the age of 65.

The pension on retirement shall be payable monthly in arrears and shall continue to be paid during the lifetime of the pensioner. At the discretion of the Member, the pension may include provision for guarantee minimum payment periods and the protection of dependents.

Benefit On Illness Retirement

A member who has not attained normal retirement age but is ill such that he/she is incapable of efficiently discharging his/her duties may be retired from the service of the Employer. Member shall be entitled to the total amount in the Accumulation Account held in respect of that Member.

Benefit On Death


A death benefit is payable if a member dies in service or out of service before he/she is paid his/her benefits.

Death before retirement

In the event of death before retirement, the member’s beneficiaries are entitled to a lump sum equal to the Member’s twice annual pensionable salary as at the date of death.

The amount in the late Member’s Accumulation Account, which shall be used to purchase an immediate pension annuities from the Fund or registered insurer in consultation with the Trustees.

Provided that, if a Member leaves more than one spouse and dependent children outside marriage, the benefits under this Rule shall be divided equally among spouse and dependent children as the Trustees, having regard to the Regulations then in force, decide.



Death after retirement

If a Member dies after retirement, payment of the death benefits shall be made by the trustees to persons who in the opinion of the Trustees were dependent upon the deceased. Dependents shall mean;

  • Surviving spouse and dependent children
  • If there is no surviving spouse and dependent children, any other dependents
  • If there is no surviving spouse and dependent children and any other dependents, his nominees
Benefit On Withdrawal


If a member absconds from his employment or voluntarily resigns from his employment prior to attaining the early retirement age and does not enter the service of any other Employer in the clothing industry within a period of six months, such a Member shall be entitled to:

  • A full refund of his Member Accumulated Contributions subject to taxation; plus
  • In the case of a Member who had completed at least between seven years and ten years of service with the Employer on the fixed date, the gratuity entitlement credited to the Member’s Accumulation Account in the Fund together with interest calculated from the date of credit to the date of payment at a rate of interest that was being earned by the Fund; plus
  • Additional withdrawal benefit (portion of the Employer’s Accumulated Contributions)
Benefit on Retrenchment

The benefit is payable regardless of age and service where the member has been made redundant or where company has closed down resulting in the member being redundant. Member shall be entitled to the total amount in the Accumulation Account held in respect of that Member.

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