Labour Relations Act, 1995 (Act No. 66 of 1995)

Notices

National Textile Bargaining Council: Extension to Non-parties of the Main Collective Agreement

Part 2

Annexures

Annexure F: Home Textiles Section

E. Employee Benefits

27. Retirement Fund
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27.1 As per the provisions of sub-clause 27.1 of Part 1 of this Agreement.

 

27.2 Contributions by the employer to a retirement fund must be a minimum of 7% (seven point zero percent) of the basic rate of pay and contributions by the employees to such a retirement fund must be a minimum of 5.5% (five and a half percent) of the basic rate of pay.

[Part 2 Annexure F (E)(27)(27.2) substituted by Notice No. 1343, GG47302, dated 14 October 2022]

 

27.3 Where the employer contribution to a retirement fund for an employee is in excess of 7.5% (seven and a half percent) of the applicable rate of pay as at 01 July 2005, the current rand amount applicable as at 30 June 2005 will continue to be paid.