What is meant by a financial year/benefit year?


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The financial year of the Fund runs concurrently with the benefit year from 1 January until 31 December of each consecutive calendar year. The Fund announces its new monthly contributions and benefits structure that will apply for the following financial period from 1 January until 31 December on an annual basis. However, the Board of Trustees reserves the right to adjust monthly contributions with a 1-month notice period in the event of unforeseen market changes.

 

The Roll-Over Benefit is a low claims incentive through which unused day-to-day benefits below the threshold value will be transferred from one financial year to another. At the start of each new financial year, new benefits are thus allocated to members in accordance with the benefit structure that will apply for the particular year.

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