Tuesday, 28 July 2009

Pension Fund

SABC employees will note that the SABC only paid half (7%) of its
contribution to the Pension Fund. In terms of the Pension Fund Act it
appears as if the SABC is entitled to take what is called a "contribution
holiday". We will study the Act in depth to make sure the SABC operates
within the boundaries of the Pension Fund Act.

It is a term and condition of employment that the SABC contributes 14% to
the pension fund.

We have a Defined Benefit Fund, which effectively means the SABC has to
ensure that the Fund stays healthy at all times.

1 comment:

Anonymous said...

I worked for Alexander Forbes before I came to SABC. Obtain the rules of the pension and minutes of meetings where this was discussed, as well as the Pension Fund Act. The rules are absolutely binding on the Fund. A very important fact is the the members are never to be prejudiced in any way in the process. No way are we supposed to receive half our benefit, this should come from the excess in the Fund, which should be the Employers (SABC) portion - not ours.

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