The National Bargaining Council for the Electrical Contracting Industry of South Africa (the Council), is registered with the Department of Labour in terms of the provisions of the Labour Relations Act No.66 of 1995. The parties to the Council are the Electrical Contractors Association of SA (ECA), a registered employers association, and the South African Equity Workers Union (SAEWA), a registered trade union.
As early as 1963, the parties resolved to establish a retirement fund for workers in the electrical contracting industry. As a result, both the Pension Fund and the Provident Fund were established. The Funds were established in terms of the provisions of the Pensions Fund Act, Act 24 of 1956, as amended. The Funds are Defined Contribution funds with the very purpose of providing retirement benefits and insured (risk) benefits such as life cover, disability cover and funeral cover to members and their dependents. Membership to at least one of the Funds is compulsory for all the employees engaged in the electrical contracting industry in South Africa.
The main objective of the Funds is to provide members with benefits upon withdrawal, permanent disability or retirement from the Industry and to provide nominated beneficiaries and legal dependents of deceased members with death and funeral benefits.