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RECENT NEWS

Good Governance for Retirements Funds

19th of March 2010

Good Governance for Retirements Funds Read More...

Interest rate increase on Housing Loans

8th of June 2010

  Interest rate increase on Housing Loans Dear Sir /Madam Kindly note that the current interest rate of 14% charged to the members for housing loans is not in accordance wiRead More...

Death Benefits Distribution

29th of June 2010

  Death Benefits Distribution   There are new challenges facing trustees. A more appropriate and sound way of ensuring that lump sum benefits owed to the minor children ofRead More...

Taxing early withdrawals

29th of July 2010

  Taxing early withdrawals   In this article, Michael Summerton and Carla Rossouw provide an overview of how withdrawal and retirement benefits are taxed. They use practical eRead More...

IMPORTANT NOTICE TO EMPLOYERS AND EMPLOYEES

19th of November 2010

  IMPORTANT NOTICE TO EMPLOYERS AND EMPLOYEES                        Read More...

LOCAL NEWS

2nd of February 2011

LOCAL NEWS   Directives are NOT final!   Why when you withdraw your pension, you pay – and then pay again.   PIETERMARITZBURG - When pension or providenRead More...

Tax Information

11th of February 2011

DIRECT HOUSING LOANS   LEGAL REQUIREMENTS In terms of the Pensions Fund Act, Retirement Funds are allowed to lend money (up to a maximum of 25% of their Assets) to their members foRead More...

Proposed Interim Retirement Reforms

2nd of March 2011

Proposed Interim Retirement Reforms  Read More...

Where has the retirement law gone?

24th of June 2011

Where has the retirement law gone?   Rumours have been floating around the industry that if employer contributions became taxable benefits in employees' hands, as proposed in the FRead More...

Sanlam calls for sea change in retirement industry

11th of August 2011

Benchmark research shows South Africans worse off now than 30 years ago Sanlam Employee Benefits (SEB) today released the results of its 2011 Benchmark survey, a comprehensive annual review ofRead More...

EVENTS

Contributions

Employees

As a member you will pay a minimum 7.5% of your earnings each month into the fund. These payments are your contributions to your own retirement benefit. (Your earnings are your basic wages, excluding any overtime, allowances or bonus as agreed with your employer).

Employers

Your employer must pay not less than 7.5% of each member’s earnings to the fund. This contribution rate needs to be negotiated with your employer but should always cover the total costs for death, disability and funeral benefits as well as the general administration charges.