Basic Conditions of Employment Act, 1997 (Act No. 75 of 1997)Sectoral DeterminationsSectoral Determination 2 : Civil Engineering Sector, South Africa29. Retirement Benefit Fund |
| (1) | All the employers who do not have a retirement benefit fluid in favour of their employees in place, shall by 1 March 2001, either join the Construction Industry Retirement Benefit Fund, or, whether independently or with other employers, do whatever may be necessary to have a retirement benefit fund registered in terms of the Pension Funds Act, 1956, in favour of their employees and shall confer the benefits of membership of such fund on their permanent employees. |
| (2) | The rules of the retirement benefit fund referred to above shall require that employers and employees contribute equally in respect of each employee's membership of the retirement benefit fluid. |
| (3) | The rules of the retirement benefit fund shall provide for a risk benefit fund, which shall provide for death, disability and funeral benefits. |