Critical info

BPS Benevolent Fund

Of major concern to BPS are the diminishing value of pensions and the plight of the many pensioners struggling to make ends meet. Using the Society’s accumulated reserves, consideration is given to applications from members in the following categories:

  1. Short-term loans to cover current debts, property sales or, for example, the purchase of wheel chairs. These loans are usually repayable by the member, interest-free.
  2. Pensioners in a desperate fix: example the purchase of wheel chairs. These loans are usually repayable by the member, interest free.
  3. Financial need – especially for the purchase of food – is helped with either non- refundable one-off payments or, in some extreme cases, monthly grants.
  4. Modest, income-bearing loans are sometimes offered to deserving cases over an agreed period.
  5. Where possible, BPS members provide assistance to incapacitate members when moving location, i.e. minor repairs, etc.

Benevolent Fund Assistance.

We are proud to be able to report that over the past financial year we have been able to be of assistance to an number of our members who have been struggling financially and have not been able to meet important and crucial expenses.

For example during December we assisted two ladies with grants to meet medical expenses not covered by their medicals aids. The one was for assistance for optometry and the other was a cancer patient.

It must also be mentioned that we unfortunately had to turn down applications as well. For example we had to decline and application for financial assistance to a member who had over committed him/herself financially because they could no longer meet their monthly payments. In one case assistance was offered as bridging finance, interest free, with a lower repayment plan but it was rejected by the member.

All applications for assistance are fully investigated by a committee before a decision on whether to assist or not is reached.

BPS Legal Services

For free legal advice, at any time of the day and twenty-four hours of the day phone our legal line 086 00 02437. This is Bank Pensioners Society’s free legal advice scheme’s direct number. Callers must have their BPS membership number handy. BPS callers will receive professional advice and guidance free of charge. Any action on a member’s behalf will be for the members account.

First Equity Insurance Brokers

First Equity Insurance Brokers can be contacted direct at phone no 011 5101300 for a personal quote.