GUIDELINES FOR PUBLIC WELFARE FUND
GUIDELINES FOR PUBLIC WELFARE FUND
GUIDELINES FOR PUBLIC WELFARE FUND
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iii.<br />
iv.<br />
Members are obliged to ensure that the monthly<br />
contribution is deductible from the salary and inform the<br />
employer if deductions are not being made.<br />
Failure to contribute for a continuous three months period<br />
will result in a penalty of having the membership frozen.<br />
v. Where membership is frozen for more than 3 months, the<br />
officer will automatically be withdrawn from the Fund and<br />
will be refunded his/her savings less any loan balance<br />
outstanding with interest.<br />
vi.<br />
A member will be required to pay arrears incurred when<br />
membership is activated.<br />
Loan Application<br />
i. For a member to qualify for a loan he/she should have<br />
contributed for at least 12 months after joining the Fund.<br />
ii.<br />
iii.<br />
iv.<br />
Members who seek financial assistance from the Fund<br />
are required to apply through completion of the prescribed<br />
form.<br />
Members outside Gaborone will submit their loan<br />
applications to District Commissioners in their respective<br />
Districts who will be the Authorising Officers.<br />
Certified copies of National Identity (citizens) or Passport<br />
(non citizens) and latest Salary Advice Slip should be<br />
attached to the application form.<br />
v. The loan qualification will be determined by the net pay<br />
and take home pay as stipulated in Directive No 1 of<br />
2005.<br />
vi.<br />
vii.<br />
The loan lending ratio is 1:2. This means that the member<br />
will be borrowed a loan which is twice his/her savings at<br />
the time of loan application.<br />
The maximum loan amount that one can apply for is<br />
P15 000, payable within 36 months. This amount will be<br />
reviewed as and when necessary.<br />
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