Motor Industry Retirement Funds – Chairperson’s Report 2020

Dear Members and Stakeholders,
I begin by thanking you as fund members and stakeholders for your continued support. It is greatly appreciated and we trust that through the numerous improvements in fund governance and performance, we show our commitment to you by producing better outcomes for everyone.

I do hope that you and your families have remained safe during this most difficult time and that you have not been severely affected by the Covid-19 pandemic. I am hopeful that as a country we have seen the worst of the pandemic and that we can look forward to the recovery which is on its way – both of our economy and our society in general. The Motor Industry Retirement Funds are committed to assisting as much as we can during this period and have done so in several ways, including by providing relief from paying contributions for those employers and employees who found themselves in a distressed financial position during this period, and also by giving a special once-off Covid-19 bonus to pensioners in the Motor Industry Pension Fund.

The year 2020 has been a year like no other and if I had to report on every matter the funds have faced, I would take up too much of your valuable time. Rest assured, though, that our funds have weathered the treacherous storms well.

In my 2020 report to members and stakeholders of our funds I want to inform you about the investment performance of our funds, the numerous improvements which have been made in terms of fund governance, as well as what you as members and stakeholders have to look forward to from our funds in the medium- to long term.

Read the full report here: