Labour Relations Act, 1995 (Act No. 66 of 1995)NoticesNational Bargaining Council for the Private Security SectorMain Collective Agreement30. Private Security Sector Provident Fund |
| (1) | Membership |
| (a) | Each security officer, subject to the exclusions in clause 1(3), who falls within the definition of eligible employee as contained in the fund rules, shall, on or after coming into operation of this agreement, become a member of the Private Security Sector Provident Fund (PSSPF). |
| (b) | If an security officer who has become a member of the Fund ceases to fall within the scope of this agreement owing to the security officer ceasing to be employed in the Private Security Sector or as a result of the employee no longer being classified as an eligible member, as defined, the security officer shall cease to be a member of the Fund and the payment of withdrawal benefit will be made to the member as provided for in the Fund Rules. |
| (2) | Contributions |
Contributions shall be made by employers and security officers from the date of operation of this agreement as specified hereunder—
| (a) | The employer shall each month deduct from the earnings of each security officer in respect of each month, or part thereof, an amount equal to the table as set out below of the employees Fund Salary, being contributions to the Provident Fund, and employers shall make an equal contribution to the Provident Fund in line with the Provident Fund Rules as approved by FSCA. |
| (b) |
Employer |
Security Officer |
|
Year 1 |
5% |
5% |
Year 2 |
6.5% |
6.5% |
Year 3 |
7.5% |
7.5% |
Year 4 |
7.5% |
7.5% |
| (c) | When an security officer is on approved leave with full pay, or with less than full pay, the security officer shall contribute to the Fund, in accordance with sub clause (2)(a), and the employer shall continue to contribute in respect of the security officer, in accordance with sub clause (2)(a), and all benefits under the Fund in respect of the security officer shall be maintained. |
| (d) | If an security officer is on approved leave without pay, no contributions shall be made by the security officer in terms of sub clause (2)(a), but the employer shall continue to contribute the employers portion of the contribution, in order that the death, disability and funeral benefits shall continue to be payable— |
| (i) | throughout the period of leave, if the security officer's leave is due to sickness; or |
| (ii) | for not longer than six months, if the security officer's leave is due to reasons other than sickness. |
| (e) | The amount payable in each month in terms of this clause shall be deposited by the employer directly into the Fund's bank account by no later than the 7th day of the month immediately following the month in which deductions and contributions were made and shall be as follows— |
| (i) | in South African currency; |
| (ii) | in cash, by cheque or by direct deposit into an account designated by the administrators; and |
| (iii) | together with such particulars as are required in terms of the Retirement Funds Act and/or by the Board; |
| (iv) | the contributions payable shall constitute an amount calculated at a rate of not less than the total contributions set out in sub clause (2)(a) of the employee's salary or as amended by the Board from time to time; |
| (v) | such amount as referred to in sub clause (2)(b) shall constitute an equal contribution by an employer and security officer. |
| (f) | If any amount which falls due in terms of this clause Is not received in full by the administrator of the Fund by the 7th day of the month following the month for which the amount is payable, then the employer is liable to pay penalty Interest in accordance with section 13A of the Pension Fund Act. |
| (g) | Any deductions in terms of this clause will not be in violation of clause 6(10)(d) of this agreement. |
| (3) | Administration and provision of the Fund |
In order to realise the objects of the Fund the trustees shall—
| (a) | directly control and oversee the operation of the Fund in accordance with the Fund Rules and the Pension Fund Act; |
| (b) | enter into an agreement with an administrator to administer the Fund; and |
| (c) | At their elections— |
| (i) | enter into an agreement with a registered insurance company; or |
| (ii) | establish a self-insurance arrangement or cell captive arrangement to provide Death, Disability and/or Funeral benefits. |
| (4) | Fund Rules |
| (a) | The Fund Rules constitute the rules that govern the Private Security Sector Provident Fund. |
In the event of any discrepancy between the Main Collective Agreement of the Bargaining Council and the Fund Rules, the Main Collective Agreement shall prevail in so far as any specific provisions as set out in the Pension Fund Act describes specific provisions and requirements as set out in the Fund Rules as approved by FSCA