Introduction

This guide sets out the main features of the Full Gospel Church of God Provident Fund, and the insurances covering the Death, Disability and Funeral cover. These have been established to provide benefits for you, the Member, should you:

  • Retire
  • Leave the service of the church
  • Die (in which case your nominated dependants receive the benefit/ or as determined by the Board of Trustees)
  • Become disabled

An illustration of your benefits will be issued to you on a benefit statement each year. This booklet should be read in conjunction with your annual benefit statement.

This booklet should not be seen as a substitute for the rules but rather a summary of the rules of the Fund and the Risk Scheme. However, it is important to note that should this booklet and the rules and policies differ for whatever reason, the rules and policies will apply. Should you require any additional information, the actual rules and policies are available on the website of the Full Gospel Church.

Membership is by enrolment and will cease on retirement, resignation, death or withdrawal of status by the Church. According to legislation, once you have become a Member, you may not withdraw from the Fund whilst you are in the service of the Church.


Membership is by enrolment and will cease on death, resignation, withdrawal of status and if premiums are not paid.

Membership is by enrolment and will cease on death, resignation, withdrawal of status and if premiums are not paid.

Members are offered a choice of policy – Momentum or Metropolitan – see Death Benefits below. Should you be on the Church’s alternate funeral scheme, you will receive a paid up policy at age 65.


Members contribute at the rate of a minimum of R15 per month to the Provident Fund. The Trustees encourage you to make Additional Voluntary Contributions (AVC’s) to the Fund.

Your “employer” assembly contributes at a rate of a minimum of R15 per month. 20% of the tithes paid by a constituted assembly to Head Office is paid over into the personalised Provident Fund of the Presiding Pastor of the respective assembly.

The Trustees of the Fund have chosen two portfolios managed by Allan Gray, one of the most successful investment houses in South Africa, to manage the investments of the members. These portfolios are as follows:

  • Alan Gray Stable Fund.
  • Alan Gray Balanced Fund.
  • The Trustees may change these portfolios on advice from the consultant from time to time.

Retirement benefits

You will normally retire on the last day of the month in which you reach the age of 65 years. This is called your “Normal Retirement Date”

You will receive a benefit equal to your share of the Fund, which is made up of the retirement contributions made by yourself and on your behalf, together with your share of the earnings of the Fund, which may be taken as a cash lump sum or used to purchase an annuity from a registered provider.

Death and Funeral cover may be continued up to the age of 75 years for those members who joined the Fund after commencement date (01/12/2005). For those who were in the Fund at commencement date, this cover can continue until death.


With the consent of your local church or board, you may retire at any time after attaining the age of 55 years. This restriction will not apply if your early retirement is due to ill-health. You will receive your share of the Fund calculated at the date of your retirement, which consists of the retirement contributions made by yourself and on your behalf, together with your share of the earnings of the Fund, subject to a tax directive.

Should permission via the constitutional process of the Full Gospel Church be granted for extension of active ministry, you may retire at any time after your Normal Retirement Date. You will receive your share of the Fund calculated at the date of your retirement, which is made up of the retirement contributions made by yourself and on your behalf, together with your share of the earnings of the Fund, subject to a tax directive.

Members have the choice of life cover. Cover ranges from R1000 to R100,000.

In the event of your death whilst in the service of the church, your nominated dependants/beneficiaries will receive:

A lump sum amount equal to the level of life cover purchased by you plus, 4

All contributions made by you and on your behalf to the provident fund together with your share of the earnings of the Fund

For those who have elected Funeral cover, their dependents will be paid out the level of cover elected. It is most important that you complete a beneficiary nomination form to ensure that anyone who you wish to benefit will have the opportunity of doing so, subject to the approval of the Board of Trustees.

A Capital Disability benefit equal to the death cover chosen will be paid to the member in the event that the member is incapable of performing the functions of their own job due to illness or injury. The waiting period is 6 months after the application for the Disability Benefit.

This benefit decreases on a sliding scale from the age of 55 and terminates on normal retirement age.


A member will be defined as disabled if according to medical evidence; he/she is totally and permanently disabled and is thus incapable of performing the functions of his/her job.

If you should resign from active service of the church before retirement age for any reason other than for early retirement or disability, membership of the Fund will cease and you will receive a lump sum benefit, which will be equal to your share of the Fund as at your withdrawal date, subject to a tax directive. Your death, disability and funeral cover will also cease in this event.

You have the option to take your benefit in cash (and be taxed accordingly) or to defer tax by transferring your withdrawal benefit to another provident fund, preservation provident fund or retirement annuity fund.

All contributions made by you and on your behalf to the provident fund together with your share of the earnings of the Fund.

For those who have elected Funeral cover, their dependents will be paid out the level of cover elected. It is most important that you complete a beneficiary nomination form to ensure that anyone who you wish to benefit will have the opportunity of doing so, subject to the approval of the Board of Trustees.

The Fund has been established to assist you to fund your retirement. It is therefore strongly suggested that you should preserve your accumulated retirement benefit if you withdraw from the Fund. You can do this by transferring your accumulated retirement benefit to one of the preservation vehicles mentioned above. Any queries should be referred to Neil Durow c/o Maxim Employee Benefits at (011) 853 4700 or the Admin Office of the Church.

Our e-mail address is This email address is being protected from spambots. You need JavaScript enabled to view it.

We recommend that you obtain professional advice before selecting a benefit on termination of membership for any reason and our consultants can assist in this regard.

Please note that, if Maxim receives any instructions regarding benefit payments on termination of membership and you subsequently change your request, any costs/losses incurred will be for your own account. Benefits arising from the Fund may be subject to income tax, as amended from time to time.

Please note that this booklet is a summary of the Rules and Benefits of the Fund. Although due care as been taken in compiling this booklet, should a dispute arise as a result of the contents of the booklet that the Rules and Policy Conditions of the Fund shall prevail.