The Funds have a social commitment to keep members informed about the state of both Funds and to the benefits available to members and their dependents. We strive to provide easy access to the Funds information, to provide other information relevant to retirement funds and to be as accessible to members as possible.
The Electrical Contracting Industry Pension and Provident Fund (“The Funds”) are defined contribution retirement funds. The Funds are umbrella funds with many participating employers. Participation in the Funds has been extended to all employees within the jurisdiction of the Council.
The objectives of the Funds are to provide benefits at retirement, withdrawal, disability or death before retirement. The Funds are governed and administered in terms of the provisions of the approved Rules of the Funds. These Rules may be amended from time to time, subject to formal resolutions passed by the Board of Trustees and upon approval of such amended Rules by the FSCA in terms of the provisions of the Pension Funds’ Act, Act 24 of 1956 as amended.
As the Funds, our principal job is to provide members financial security after retirement. This is achieved by ensuring that the funds/contributions are invested responsibly, and benefits paid out correctly, on time when they are due. Other important duties of the Funds are to provide members with financial security should a member become disabled due to work prior to retirement. This is achieved through additional insurance. In the same manner, the life of each member is insured to provide financial security for the families, nominated beneficiaries and legal dependents of deceased members. The Funds uses the Council offices as their client service centers, which members may visit for fast and efficient assistance. These walk–in centers are in Johannesburg, Pretoria and Port Elizabeth.
The Funds registration number with the Financial Services Conduct Authority (FSCA), formerly the FSB, is 12/8/4370/1