About the Flexi Fund 

The DSV Flexi Retirement Funds are defined contribution funds that are registered in terms of the Pension Funds Act of 1956. The DSV Flexi Retirement Funds are independent legal entities, which are governed by a Board of trustees.

The registered name and number of the funds are:
DSV Flexi Retirement Fund – Pension Section [Registration No: 12/8/13349]
DSV Flexi Retirement Fund – Provident Section [Registration No: 12/8/29227]

The DSV Flexi Retirement Funds are designed to provide those employed by DSV with valuable benefits (retirement, withdrawal and death benefits to its in-service members) that will assist you in planning for your long-term financial security. It is a condition of employment that you are a member of the Fund while you are employed by DSV. This means that you may not withdraw your benefits from the Fund while you are working for DSV.

You are a member of the DSV Flexi Retirement Funds if you:

• are a permanent employee of DSV (full time or part time);
• and are not a member of one of the other funds that DSV participates in, namely:
• SATAWU National Provident Fund
• Alexander Forbes Retirement Fund [Solutions Employees at Ford Silverton]
• Old Mutual Superfund Provident Fund [Solutions Employees at Ford Silverton]

On a monthly basis, DSV will pay contributions into either the Pension Section or the Provident Section on your behalf, depending on which Fund you have selected when you were employed. Whether you belong to the Pension Section or the Provident Section, the monthly contributions made by your employer are tax-deductible. The tax deduction allowed for your combined pension, provident and retirement annuity (if applicable) contributions is 27.5% of the higher of gross remuneration and taxable income, subject to an overall maximum deduction of R350,000 per year.

What is a Pension Fund?

At retirement, you can take up to a maximum of one-third (1/3) of your total benefit in cash. The remaining two-thirds (2/3) of your benefit must be used to buy a monthly pension from a registered insurer. At withdrawal, you have the option to take up to 100% of your total benefit in cash.

What is a Provident Fund?

At retirement, you can take 100% of your total benefit in cash, or use the money to purchase a monthly pension from a registered insurer, or a combination of the two options. At withdrawal, you have the option to take up to 100% of your total benefit in cash.

Click here to find out more about how the Retirement Fund is managed.