SNPF

Member’s annual statements

Employers are requested not to ignore their postal notification slips. They are encouraged to collect them from their post offices. We believe employers will check and distribute the statements to their employees upon receipt of same. Members are also encouraged to check for any discrepancy in names, years of birth, contributions gaps and graded tax number. The SNPF would like to take this opportunity to thank all Employers for their cooperation in the timely submission of the monthly returns and payment of corresponding statutory contributions thus complying with the SNPF Kings Order in Council No.23 of 1974.

A member statement is a document produced by the Fund annually reflecting the contributions the member made during a certain financial year. The law establishing the Fund requires that this document be produced and sent to members via their employers three months after the end of the financial year. Therefore it is imperative that this document be produced by the Fund.

This is a document where a member can prove to his/her satisfaction that the employer indeed forwarded the contributions deducted from him and that the employer has also contributed on his behalf the same amount.

 
Features of the statement

Beside the contributions, a statement reflects;

Year of birth – on the top right of the statement the member must ensure that this is always correct. It must be congruent to the birth certificate information. If not, steps to correct this must be undertaken through the employer or personal visit to our branch offices.

 
Member’s number
The members’ number is actually the graded tax number. This is shown on the top of the statement. It is a critical part of the statement. The member is encouraged to check this carefully to ensure that this number is the same as the one on the tax receipt. If the Fund was not supplied with this information or the information supplied was incorrect, a temporary number is normally allocated to the member. The member number with us is similar to an account number with a commercial bank. We do not encourage members to change these numbers. Members are urged to use only one graded tax/member number – its very important.
 
Name
It is at the top middle of the statement. The name should always be the same as the one on the birth certificate. If a member has changed names, e.g. through marriage or otherwise, it must be communicated to the Fund through the employer with documentary proof to that effect. Employers must always be supplied with the correct information.
 
Contributions

This forms the main part of the statement. Contributions are as a result of a submitted, processed monthly returns form, NPF 200. If form NPF 200 is not submitted by the employer, even if the employer has paid, no contribution will be reflected on the statement.

A correct statement must have the correct opening balance and twelve entries, representing the twelve months of the previous year for which the statement refers. If there is a missing month, that will be subject to investigation. It could be as a result of wrong graded tax, not supplied, missing name or non submission or payment by employer. This document serves to show the member whether the contributions submitted by the employer had been captured correctly by the Fund. Members want to see their contributions plus the employer’s part. The statement reflects just that. There is an employer and member column within the statement.

If a member pays supplementary contribution as well, the statement will come in two pages, showing twenty four entries. The running total is reflected on the right side, going down to the addition of interest and thereafter the closing balance. If one does not agree with the statement, the employer and the Fund have to be advised of the discrepancy immediately. Members are urged to keep this document safely for future reference.

Chairman's Statement

Chairman Mr. Jobe Mashwama
Chairman of the SNPF Board.
The performance of SNPF during the year under review was one of the best ever for the institution....

Read the full statement in the 2012 Annual Report