JOINING THE FUND
- Members and employers need to adhere to the South African Local Government
- Bargaining Council Salary and Wage Collective Agreement that all newly
appointed employees with effect from 1 July 2015 may only join a
- Defined Contribution Retirement Fund.
- The agreement further stipulates that Employers will only contribute a maximum of 18%.
- Members have the option to either contribute 7.5% or 9%.
- All the cost for risk, professional and administration services is deducted from the employer contributions and the net amount is applied for retirement funding.