The National Union of Mineworkers together with the South African Chamber of Mines established the Mineworkers Provident Fund in June 1989. The Fund was established as a result of the big mineworkers strike that took place in 1987. The strike resulted from the desire to have a retirement fund in the industry, which was denied to them over many years, which have been offered to their white counterparts.

For their retirement before then mineworkers were given tokens like wristwatches, gum boots and overalls. The fight was to change the repressive way the industry was treating them. The mining industry had also divided members into skilled semi-skilled and non-skilled and only the semi-skilled black workers were eligible to be members of a Fund that was established in 1970. The mining industry also controlled the Fund (1970) in that in there was no members Trustees.

The establishment of the Mineworkers Provident Fund ushered in the new way of managing the Funds in South Africa . It was the trendsetter in the member representation. Communication to members became key to Trustees to make members know and understand the decision taken by them. Members also could influence the decision by recommending some issued that they need discussed to the board.

The Mineworkers Provident Fund caters for the following benefits:

• Retirement benefits
• Ill health
• Death benefits
• Terminally ill
• Retrenchment benefits
• Dismissal benefits
• Funeral benefits for the member and the member's immediate family
• Funeral benefits for the member after retirement age
• Standing surety for Housing loans