| (1) | The Fund established under Government Notice 266 of 15 February 1963, and known as the "Electrical Contracting Industry Pension Fund" is hereby continued, and the Fund known as the Electrical Contracting Industry Provident Fund (both hereinafter referred to as the "Fund") is hereby continued by the Council. |
| (a) | The Fund shall, subject to the provisions of subclause (7), consist of moneys accruing from contributions prescribed in subclause (5) of this Clause. |
| (b) | The Fund shall also consist of moneys standing to the credit of the members of the Fund at the date of this Agreement. |
| (3) | The objects of the Fund shall be to provide members with benefits upon withdrawal, disability and retirement from the Industry. The Council will ensure that the Fund provides members with these benefits. In the event that any benefit is not provided for by the Fund the Council will secure these benefits. |
The Council will ensure that members are insured for death and funeral benefits.
The death benefits will be distributed in terms of Section 37C of the PFA.
| (4) | Membership of the Fund shall be compulsory for all master installation electricians, installation electricians, electrical testers for single phase, electricians, artisans, domestic appliance mechanics, Elconops 3, Elconops 2, Elconops 1, storernan, drivers, electrical assistants, and apprentices. |
| (a) | Every employer shall pay 15% of the prescribed weekly wage in respect of each category of employee in terms of subclause (4) above to the Regional Manager of the Council, not later than the 15th day of each month for the preceding month, in respect of such employees together with such form as specified by the Council. |
| (b) | Every employer shall be entitled to deduct 50% of the contribution referred to in subclause (5)(a) above, from the weekly wages, excluding overtime, of the employee in respect of whom the contribution is made. |
| (c) | For the purposes of this clause a week shall constitute not less than three shifts actually worked for one employer in the Industry during any one week from Monday to Friday, (inclusive). |
Pension and Provident Fund benefits will be paid for by the Council in terms of its Sick Benefit Fund Rules.
| (d) | Contributions to the Pension and/or Provident Funds for any member shall be remitted for a maximum of three weeks during the member"s annual leave period as provided for in the Main Agreement. Provided that if the member has been in service for at least five years with the same employer, contributions shall be for a maximum period of four weeks. |
| (e) | All contributions received by the Council in terms of this clause shall be paid to the Funds administrator. |
| (f) | Notwithstanding the provisions of any other clause in this Agreement or the Main Agreement the contributions referred to in subclause (5)(a) shall be based on a working week of 42½ (forty two and one half) hours. |
| (g) | Should any amount due in terms of this clause not be received by the Council by the 15th day of the month following the month in respect of which it is payable, the employer shall pay interest on such amount or on such lesser amount as remains unpaid calculated by the funds administrator as prescribed by the Registrar of Pension Funds in terms of Section 13A(7) of the Pension Funds Act, 1956, as amended, until the day upon which payment in cash is actually received by the Council: |
(6)
| (a) | Benefits payable to a member of the Fund shall be as prescribed in the rules of the fund(s). |
| (b) | Benefits accruing under the Fund shall not be transferable and may not be ceded or pledged unless the PFA provides for otherwise: Provided that any member may nevertheless nominate a beneficiary to receive the proceeds of his policy in the event of his death prior to retirement. |
(7)
| (a) | The Fund shall be administered in accordance with Fund Rules approved by the Trustee Board. This Agreement shall not be inconsistent with the rules or the provisions of the PFA nor shall the Fund rules be inconsistent with the Council"s collective agreements in so far as members" terms and conditions of employment are concerned. A copy of the rules and any amendments thereto shall be lodged with the Registrar of Pensions and the Registrar of Labour. |
| (b) | In the event of the dissolution of the Council or in the event of it being unable to perform its duties, the Registrar may appoint trustees to ensure continuity of the funds. The trustees so appointed shall have no powers to change members" terms and conditions of employment that existed immediately prior to dissolution of the Council or as a result of it being unable to perform its duties. Payment (if any) for the services rendered by the trustees shall form a charge against the Funds. |
| (c) | In the event of the expiration of Council"s Main Collective Agreement and this agreement, the funds shall continue to operate in terms of their rules. |
