Labels:text | screenshot | book | document | letter | font OCR: 24. Retirement benefit information Pensions Telkom SA Limited provides benefits for al its permanent employees through the Telkom Pension Fund and the Telkom Retirement Fund. The Pension Fund is a defined benefit fund whichwas created in terms of the Post Office Amendment Act 85 of 1991 . The Retirement Fund is a defined contribution fund which is subject to the Pension Fund Act 24 of 1956. The Retirement Fund is a new fund which was established in July 1995. Due to the fact that a material percentage of the employees exercised their option to join the Retirement Fund, this fund was obligated to meet their portion of the actuarial deficit of the Telkom Pension Fund. Both funds are valued actuarially at intervals of not more than three years using the projected benefit method. The assessments of the funds are as follows:
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