History of the ELC Pension Fund

History of the ELC Pension Fund

The ELC Pension Fund has a rich history spanning nearly five decades of serving the Lutheran Church community in South Africa.

Foundation (1975)

The ELC Pension Fund was established on 1 March 1975 as a Defined Benefit Umbrella Fund. The United Evangelical Lutheran Church in Southern Africa (UELCSA) served as the Principal Employer, recognizing the need to provide retirement security for pastors and church employees.

Conversion to Defined Contribution (1997)

On 1 January 1997, the Fund underwent a significant transformation, converting from a Defined Benefit Fund to a Defined Contribution Fund. This change was made to provide greater flexibility and transparency in retirement planning for members.

Governance

The Fund is governed by a Board of Trustees consisting of a maximum of 6 persons, all appointed by the UELCSA council. This Board ensures that the Fund operates in the best interests of its members and beneficiaries.

Mission and Vision

Throughout its history, the ELC Pension Fund has remained committed to its mission of providing secure retirement benefits for those who serve the Lutheran Church community in South Africa.