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You choose a percentage of between 12% and 40% of your CoE. If you do not make a choice when you join the UCTRF, your contribution rate will be defaulted to 18% of CoE. These contributions are Employer contributions, even though they come out of your CoE.

Part of this contribution is used to pay for your death, disability and family funeral cover, administration fee and other expenses (such as audit, actuarial, secretarial, FSCA levies, bank charges, costs of running the UCTRF Office, etc.). The rest is invested in your Accumulated Retirement Savings. These costs change in July each year.

The Risk Cover costs, administration fee and other expenses change annually and are set out below:

These costs apply with effect from   
1 July 2023

Percentage of CoE

UCTRF death cover premiums for every 1 x annual CoE that you select


Disability income cover premiums


Separate lump sum death and disability cover premiums


Administration fee


Other expenses


Funeral cover (applicable to members who do not opt out from this benefit) 

R20.80 per 
member per month

As can be seen from the above, the amount of your total contribution that is allocated to your Accumulated Retirement Savings will depend on the Risk Cover you elected. (Note that the premiums and fees that are deducted from your contribution are a percentage of your CoE.  This means that the lower your contribution percentage, the bigger these fees and costs are when expressed as a percentage of your contribution.) To understand the amount that is allocated from your contributions towards your own Accumulated Retirement Savings please use the Contribution Calculator.

You may also select up to an additional 4x CoE Separate lump sum death cover. The cost of any additional Separate lump sum death cover will be paid by you in addition to the percentage contribution you select and costs 0.3% for each 1 x annual CoE. (The premium is reviewed annually effective 1 July.)

When can I change my contribution rate?

You can change your contribution rate effective 1 March each year.  You can also change your contribution rate whenever your CoE changes.  Please note that the contribution is deducted from your CoE, so a change to your contribution rate will affect your take-home pay.

If you want to increase your contribution rate contact your HRBP, who will assist you with completing the relevant forms.  Details of HRBPs can be found on the UCT Human Resources website at

Can I make lump sum additional voluntary contributions?

Yes. If you receive a performance bonus (i.e. discretionary or exceeds award) you may transfer up to 55% of this bonus to the UCTRF

In addition, when you leave the service of your Employer, you can transfer up to 55% of your leave pay to the UCTRF. If you select this option, you must let your Department have your final leave dates at least 2 months prior to your last day of work so that the leave audit reports can be requested.  In addition you must ensure that your HR153 is submitted by the 3rd of the month in which you leave UCT (for example: if you leave UCT on 31 December your form must be submitted by 3 December).

If you have been contributing below the tax-free maximum, all or part of this additional, voluntary contribution will be tax-free. Please click here for information on taxation of contributions.

Can I transfer money from a previous fund into the UCTRF

Yes. This amount will be credited in full to your Accumulated Retirement Savings.  Your Vested Share in your previous fund will be allocated to your Vested Share in the UCTRF and your Non-Vested Share in your previous fund will be allocated to your Non-Vested Share in the UCTRF.

The transfer will be tax-free.

Are my contributions taxed?

Please click here for information on taxation of contributions.

Our Contact Details

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021 650 2934

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