Type of Fund

Welcome to the Nehawu National Provident Fund.

The Nehawu National Provident  Fund is a Defined Contribution (DC) fund with defined employer and employee contributions. The Fund provides retirement, withdrawal, death, funeral and disability benefits to members, and their dependants. The Fund is registered as a privately administered provident fund in terms of the Pension Funds Act of 1956 and approved as a provident fund in terms of the Income Tax Act of 1962.

At the previous year-end (31 December 2012), the Fund had 3 521 members from 60 participating employers. The members contribute between 5% to 7.5% to the Fund with the participating employers contributing between 5% to 16% of the members’ pensionable salaries.. The market value of the Fund’s assets as at 31 December 2012 was more than R314 million.

The Fund is governed by a Board of Trustees. The Board had established the following subcommittees: Administration, Audit and Complaints Committee, Investment, Actuarial and Communication Committee, and Risk (Death and Disability Benefits) Committee,The Subcommittees report to the Board on these matters.

The Board of Trustees comprises the following:

  • Five Trustees appointed by Nehawu, the Union;
  • Two Trustees elected by members ;
  • Four Trustees appointed by participating employers
  • Two Independed Trustees elected by the Board.

The Fund currently has 1 full-time official: the Principal Officer to carry out the business of managing the Fund.

 

 

 
Disclaimer
The Nehawu National Provident Fund (the Fund) takes reasonable care to ensure that the information on this website is accurate and complete. However, all the information that is provided is for general purposes only. The information is not intended to be comprehensive and in detail. You must not rely on the information on this website as an alternative to the provisions of the Rules of the Fund. The Fund makes no claims, promises or guarantees – whether express or implied- about the accuracy, completeness, or adequacy of any information contained on this website.  

The Fund does not accept any responsibility for loss or damage which may arise in connection with the use or reliance upon any information appearing on this website.

You should therefore always consult the latest registered Rules of the Fund on the unique facts and circumstances of your specific situation.