PENSION FUND CONTRIBUTIONS: ARREARS
The National Bargaining Council’s Main Collective Agreement provides for the compulsory membership, of employees in the industry, of the HBSI Pension Fund.
In the absence of an exemption, it is a legal requirement that employers submit payment of the required contributions to the Council (on behalf of the Employer and of the Employee, as set out in the Main Collective Agreement and Wage schedules) for payment to the Fund and in accordance with the Rules of the Fund.
A failure to pay over contributions as required is not only a contravention of the Pension Fund Act, and a criminal offence, but also potentially leaves employers exposed to legal challenges concerning the impact on other benefits such as risk benefits (e.g. death and serious illness) payable to the members.
The FSCA (Financial Services Conduct Authority) issued warnings and alerts in June 2022 that they would continue with their enforcement efforts in this regard and have done so and continue to do so.
The Council also continues with its enforcement of non-compliance with the Main Collective Agreement
Please urgently attend to any Pension Fund arrears. Should you need assistance in this regard please contact the Designated Agent or Credit Controller in your area or the Council’s offices.
Important Reminders:
REFERENCE ON PAYMENTS
Please remember to include your SAL Number as a reference when making payments to the Council. We are unable to allocate payments to your accounts unless we know which establishments they are to be applied to. If you forget to do so, please kindly email us the proof of payment and SAL number to accounts@hcsbc.co.za
Please ensure you make payment by the date specified on the Returns (i.e. on or before the 7th of the month). Late payments will result in penalties
ANNEXURES A AND B AND STAFF AMENDMENT FORMS
All employers are obliged to ensure that an establishment is registered with the Council.
In terms of the Main Collective Agreement, all employers of an establishment must apply to the Council in the form specified in Annexure “A” for registration of the establishment and shall, as part of the registration process, also submit a duly completed Annexure “B” in respect of all Employees employed at the establishment. (Annexures A and B may be downloaded from the Council’s website www.hcsbc.co.za.
The employer must notify the Council of the appointment of an employee (including a learner) by submitting a completed Annexure “B” before the 7th of the month following the appointment.
These documents can be submitted to: accounts@hcsbc.co.za.
In the event of an employee (including a learner) leaving the services of the employer for whatsoever reason, the employer must notify the Council of such termination in writing.
The notice must include the employee’s full name, surname, identity number, position held and last working day and be submitted to amend@hcsbc.co.za before the 7th of the month following the termination of employment.
The Staff Amendment Form (Staff Amendment Form) may be used to notify the Council of changes.
Please contact your agent or the Council offices should you need assistance.
Please consult the Council’s WEBSITE for the contact details of Agents in your area.
For more information, contact: www.hcsbc.co.za