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Archive - Archive 2004 - July 2013

Pensions check |20 May 2005

Pensions check

A specimen of the statement

Showing the pension contributions made by employees and employers over the previous twelve months the yearly statements have been sent out over the last couple of weeks and workers are being asked to make sure that the amounts shown tally with their employment history.

Pension Scheme marketing and promotions officer Darell Bristol said that for each month of work the statement should show a contribution of R25 from the employee and R50 from the employer.

He said that any mistakes should be reported to the Pension Scheme by contacting either himself or the general manager for Pensions Marie-Ange Waye-Hive, on 224 669 or 225 631.

Mr Bristol said that problems can occur when, for example, an employee leaves a job and is replaced by somebody else, but the employer continues to make pension contributions in the name of the former employee.

Contributions for the month of December 2004 have not yet been credited to the accounts and should therefore read as zero on the statements.

Mr Bristol also asked workers to check that any voluntary contributions they have made to the pension scheme are shown on the account statement.

 

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