{"id":65,"date":"2019-08-18T17:07:54","date_gmt":"2019-08-18T15:07:54","guid":{"rendered":"https:\/\/eifunds.co.za\/kzn\/?p=65"},"modified":"2019-08-18T17:19:27","modified_gmt":"2019-08-18T15:19:27","slug":"contribution-rate-change","status":"publish","type":"post","link":"https:\/\/eifunds.co.za\/kzn\/rules\/contribution-rate-change\/65\/","title":{"rendered":"Contribution rate change"},"content":{"rendered":"\n

Members and employers of the Electrical Industry Kwazulu Natal Pension Fund are advised of a change in contribution rates.<\/p>\n\n\n\n

In terms of notice No. R. 592 of 2019 published 18 April 2019, Pension Fund Contribution rates have been adjusted as follows:<\/p>\n\n\n\n
<\/td>Was<\/td>Is now<\/td><\/tr>
Pension funding salary<\/td>44 hours per week<\/td>42.5 hours per week<\/td><\/tr>
Member’s contribution rate<\/td>5.6%<\/td>6%<\/td><\/tr>
Employer’s contribution rate<\/td>8.4%<\/td>9%<\/td><\/tr><\/tbody><\/table>\n\n\n\n

The effective date of this change is from 1 June 2019.<\/p>\n\n\n\n

The effect of the change is a slight reduction in insured benefits and an increase in contributions being allocated to retirement funding income.<\/p>\n\n\n\n

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Members and employers of the Electrical Industry Kwazulu Natal Pension Fund are advised of a change in contribution rates. In[…]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[12,13,14],"class_list":["post-65","post","type-post","status-publish","format-standard","hentry","category-rules","tag-contributions","tag-rule-change","tag-rules"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t