An Introduction to BPS

The Bank Pensioners’ Society – Financial Institutions Pensioners Society (BPS-FIPS) came into being
in 1969 as a result of the initiative of pensioners from First National Bank and Standard Bank. The
BPS-FIPS assists pensioners from the financial sector to keep in touch with colleagues and friends
and where possible to provide financial assistance to those in desperate need.

The BPS-FIPS has a robust constitution to manage the organisation which has as its core the
following objectives:

  • To collate information on the needs of pensioners from the financial sector and to provide a channel for their views.
  • To keep in touch with older pensioners and annuitants and in this way bring to light cases of particular hardship and to assist generally in whatever way it can, to make their lot easier.
  • To assist member pensioners who may find themselves in financial difficulties and require short-term financial assistance.
  • To join with other pensioner organisations in speaking up for the interests of this section of the community.
  • To promote social functions and friendly gatherings at which they can meet, swap ideas and socialise with old friends and colleagues.
  • To identify special offers tailored to pensioner needs and promote these to our members. These include competitive short term insurances, holiday packages, and the like.
  • To support BPS members running their own businesses in local areas.
  • The main objective has been and still is to look after the interests of our members and provide support to those in need.

Some of the benefits/service providers that are available to members are as follows:

  • FirstEquity Insurance – short term insurance policy (Pensure), designed for BPS members only;
  • Heart 2 Care – Home based step-down and frail care;
  • Avbob – special offer on funeral plan for BPS members; and
  • Travel benefits available exclusively to BPS members.

Absa Bank, FNB, Standard Bank, the Reserve Bank and Bankmed fully support BPS. We currently
have annual meetings with dedicated representatives. We are also in negotiations with Nedbank to
obtain recognition.

BPS-FIPS is financed through membership subscriptions, currently R 66.00 per annum as well as
interest from investments. These funds are available for support to members who find themselves in
financial difficulties. We also have arrangements with our service providers who pay us a commission
for business received from members.

The BPS-FIPS sent an email to all registered members earlier regarding the BPS-FIPS and Covid-19
situation and its effect on get-togethers. Should current members not have received either an email,
WhatsHap, or SMS message, then it is because the members had not updated their contact details.
Members should urgently update their details to receive further communications from the society.

Please visit www.bps-fips.co.za for additional information, such as a copy of our Constitution and the
names and addresses of office bearers, and to update their contact details. The office contact for
members is: 0114420030 and email: online520247@telkomsa.net