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ABSA CONSULTANTS AND ACTUARIES

ABSA Agricultural Sector Provident Fund
Benefits and Contribution Table

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Agricultural Sector Provident Fund
In order to make provision for different needs, different benefit plans are offered. This can be extended at a later stage, dependent on the need and the effect of inflation. The benefit structure is set out in the table below.
Plan
Plan A1
Plan A2
Plan B
Plan C1
(closed)
Plan C2
Plan C3
(closed)
Plan D
Plan E
Contribution
R113.00
R113.00
R131.00
R148.00
R148.00
R209.00
R173.00
R296.00
Death cover
-
R10 000
R10 000
R10 000
R12 500
R12 500
R15 000
R25 000
Capital Dissability
-
-
-
-
-
R12 500
R15 000
R25 000
F
U
N
E
R
A
L

Member
-
R10 000
R10 000
R10 000
R10 000
R10 000
R12 500
R15 000
Spouse
-
R10 000
R10 000
R10 000
R10 000
R10 000
R12 500
R15 000
Child 14-21 years
-
R10 000
R10 000
R10 000
R10 000
R10 000
R12 500
R15 000
Child 6-13 years
-
R5 000
R5 000
R5 000
R5 000
R5 000
R6 250
R7 500
Child 0-5 years
-
R2 500
R2 500
R2 500
R2 500
R2 500
R3 125
R3 750
Paid up funeral policy
-
-
-
R 5 000
-
R 7 500
-
-
Less total costs
R16.94
R55.94
R56.97
R75.44
R61.82
R95.42
R77.64
R109.12
Net retirement provision
R96.06
R57.06
R7
R72.56
R86.18
R113.58
R95.36
R186.88

Plan A: Investment only
Contributions and separate group scheme structures as from 1 July 2015 to 30 June 2016

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