Critical Illness Benefit Added to HBSI Pension Fund

 

Good news for all salons – a Critical Illness Benefit has been added to the HBSI Pension Fund.  This will be applicable from 1 January 2020. For more information on what this benefit includes, please CLICK HERE to take a look at the information sheet.

 

In terms of exemptions the following applies:

• When a salon has its own pension fund, it can apply for an exemption from the HBSI Pension Fund

• The rules state that their own fund should offer equal or greater benefits to be considered for exemption

• The Critical Illness benefit should now form part of their fund to comply with the rules of exemption

 

All exemptions for 2020 should reach us by no later than 11 December 2019 since the Exemptions Committee is meeting for the final time on 13 December 2019.  Any applications received after that will only be heard in January 2020 and could result in the Council charging pension fund invoices if your exemption has not been heard or granted.

 

Please CONTACT the Bargaining Council for any further information and we look forward to assisting you.

 

www.hcsbc.co.za

 

 

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