HGPF Contribution Services

By: Hgpf  11-11-2011
Keywords: Local News, Housing Loans, Tax Information

Good Governance for Retirements Funds

19th of March 2010

Interest rate increase on Housing Loans

8th of June 2010

Death Benefits Distribution

29th of June 2010

Taxing early withdrawals

29th of July 2010

IMPORTANT NOTICE TO EMPLOYERS AND EMPLOYEES

19th of November 2010

LOCAL NEWS

2nd of February 2011

Tax Information

11th of February 2011

Proposed Interim Retirement Reforms

2nd of March 2011

Where has the retirement law gone?

24th of June 2011

Sanlam calls for sea change in retirement industry

11th of August 2011



11% Fund 10% Trust

Employees

As a member you will pay a minimum 7.5% of your earnings each month into the fund. These payments are your contributions to your own retirement benefit. (Your earnings are your basic wages, excluding any overtime, allowances or bonus as agreed with your employer).

Employers

Your employer must pay not less than 7.5% of each member’s earnings to the fund. This contribution rate needs to be negotiated with your employer but should always cover the total costs for death, disability and funeral benefits as well as the general administration charges.

Keywords: Housing Loans, Local News, Tax Information

Other products and services from Hgpf

11-11-2011

HGPF Statement Services

Every Participating Employer will also receive a benefit statement twice a year reflecting the total contributions paid for all members, the value of all his/her employees benefits and any the value of benefits paid. Twice a year each member receives a personal benefit statement showing his/her share of the fund.


11-11-2011

Housing Loans

In terms of the Pensions Fund Act, Retirement Funds are allowed to lend money to their members for the sole purpose of housing. The loan must be for housing and must be accompanied by an acceptable Quotation and confirmation of affordability. The minimum rate of interest that can be charged on these loans is prescribed by the Income Tax Act. An administration fee of R10 is charged for the operation of this Scheme.