Building wealth for your tomorrow

The Cape Municipal Pension Fund is registered in terms of the Pension Funds Act, No 24 of 1956 and the Income Tax Act, No 58 of 1962. In terms of Section 1 of the Income Tax Act, 1962 the Fund is classified as a Pension Fund and is a hybrid Fund.

The Fund was established on 1 January 1925 and up until March 1998 it was called the Cape Town Municipal Pension Fund. At that time it was a Defined Benefit Pension Fund. In July 1998 a Defined Contribution section was opened and in-service members of the Fund were given the choice to move to the Defined Contribution section. The Defined Benefit section was then closed to new entrants. Since that date all new members of the Fund have been required to join the Defined Contribution section of the Fund. The Cape Municipal Pension Fund is the oldest local authority Pension Fund in South Africa.

As at 30 June 2021, the Fund served the interests of some 9 700 in-service members and some 4 600 pensioners.

The objectives of the Fund are to provide benefits:

• To in-service members on their retirement (and thereafter, for those members who receive pensions from the Fund);
• To surviving dependents of deceased members who die in service or after retirement; and
• To members who cease to be contributing members of the Fund for reasons such as resignation, retrenchment, or disability.

The Fund has a proud history of improving benefits and granting good increases to pensioners. It offers flexible investment choice and pension income choice to members of the Defined Contribution section.

The City of Cape Town is the only Employer participating in the Fund.

At 30 June 2021, the Fund’s total funds and reserves amounted to R18.4 billion.

Our Mission

The mission of the Fund is to provide reasonable and competitive benefits as defined in the Fund's rules and taken together with our vision statement and values.

Our Vision

To strive to be at the top of the league by providing good investment performance, an effective administration service and sound governance together with ongoing communication and education of our members.

Our Values

Honesty - Open and transparent.
Empowerment - Member education.
Innovation - At the forefront of developments in the retirement fund industry.