HCSBC: Exemption Application Window Period for Pension Fund Exemptions - September to December 2024
The four-month period within which exemptions from membership of the HBSI Pension Fund are processed is September to December each year, for the following calendar year. Please note that both applications and appeals (if any) must be processed within this period. If an exemption is not applied for or granted within the period, an establishment will be required to contribute to the HBSI Fund on behalf of employees and enforcement procedures may follow if not adhered to.
Please complete and submit your applications for the 2025 calendar year (whether making a new application or renewing an existing application) as soon as possible. These applications must be fully processed within the period September 2024 to December 2024.
Current exemptions will automatically expire on 31 December 2024, and invoices will be raised in accordance with the Collective Agreement if your application is not received by the Council on time and/or an exemption is not granted.
The Exemption Application Form is available to download from the website Annexure D or you may request an application form via email from exemption@hcsbc.co.za.
More detailed notes on the application for exemption from the provisions relating to membership of the HBSI can be accessed via the following link Notes on HBSI exemption applications.
The Two-Pot System
The two-pot retirement system was implemented on 1 September 2024. For your convenience, the Council has included all the documents received from the HBSI and its Administrators on the Council website. You may access them via this link: Media - Pension Fund documents.
National Wills Week
National Wills Week is from 16 to 20 September. Verso has issued a Newsletter explaining why it is so important for every person, young and old, to have a Will. If you have any questions or need assistance, contact the Verso Team at info@verso-wealth.co.za.
Correspondence with Council
The Council’s Admin team is once again requesting that all correspondence with the Council include the establishment’s name and SAL Number. Please ensure that all your correspondence with the Council contains this information
Please consult the Council’s WEBSITE for the contact details of Agents in your area.
For more information, contact: www.hcsbc.co.za
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