The Local Authorities Pensions Fund (LAPF) is a social security institution established under The LAPF Act No 9 of 2006.
The main functions of LAPF: -
- To provide a scheme for payment of benefits to insured persons payable under the Act
- To work towards a gradual and continuous improvement of benefits payable under the Act.
- To register employers and employees who by law are required to contribute to the Fund and collect contributions from them
- To safeguard members' contributions and other resources of the Fund through keeping and maintaining up to date accounts and records;
- To invest members' funds in secure and high yielding investments; and
- To formulate, offer and administer retirement and other benefits packages which are attractive to persons and institutions who are and may become depositors or contributing employers
