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Labour Relations Act, 1995 (Act No. 66 of 1995)

Notices

National Bargaining Council for the Hairdressing, Cosmetology, Beauty and Skincare Industry

Extension to Non-parties of the Consolidated Collective Agreement in terms of Sec 32(2) of the LRA

Annexures

Hairdressing Beauty and Skincare Industry Pension Fund : Broker/Intermediary Exemption Application Form

 

N.B:  NOTE THAT IN THE EVENT THAT THE APPLICANT IS NOT SATISFIED WITH THE DECISION OF THE EXEMPTION COMMITTEE THE APPLICANT IS ENTITLED TO APPEAL AGAINST THE OUTCOME WITHIN 30 DAYS AFTER IT BECAME KNOWN.

 

R663 National Bargaining Council logo

 

HAIRDRESSING BEAUTY AND SKINCARE INDUSTRY PENSION FUND

 

BROKER/INTERMEDIARY EXEMPTION APPLICATION FORM

 

Registration Number / Salon Reference Number

Name of Company / Salon Name

Address

Telephone Number

Email Address

Facsimile Number

Contact Person





In applying for an Exemption please fill in the above and details required below. No exemption application will be considered if this form is not duly completed and Annexure A signed by all employees concerned. Exemption will only be considered if the company has an existing Fund whose benefits are superior to those of the Council's Fund. Retirement Annuities will only be considered if certain specific criteria are met as defined in Board's exemption policy.

 

Fund Name:



FSB Registration Number:



No. of Employees Affected:



Kindly complete (or arrange for your financial broker/intermediary to complete) the checklist below and attach a copy of the company scheme rules as proof.

 

Date of Application:



 

Type of Fund:

Pension Fund

Provident Fund

 

Full name of Umbrella Fund:



 

FUND APPLYING FOR EXEMPTION

Costs/Fees as percentage of salaries

Gross Employer contributions

less: Basic administration fee

less: Asset based administration fee (if any)

less: Employer participation fee

less: Intermediary/Distribution fee

less: Governance/Fund costs

less: Death and Disability costs

less: Funeral costs

less: Critical Illness Benefit

less: Any other costs/fees not disclosed above

Net Employer contributions

plus: Member contributions

Total Net Retirement contributions





(All Administration costs MUST be disclosed, such as asset based fees charged in addition to normal member administration fees, as well as all governance/fund costs, distribution and intermediary fees and employer participation fees). Failure to do so will result in an automatic disqualification.

 

Investments:

 

Name/s of the underlying Investment Portfolio/s: _______________________________________

 

Portfolio/s Returns up to date of application:

 

Portfolio

Month

1 Year

3 Years

5 Years

Return



Benchmark



(A copy of the Fund Fact Sheet of the underlying portfolio/s must be provided)

 

 

YES

 

NO

 

Total Investment Charge of the Portfolio/s, including guarantee rate if applicable:

If Stable Growth or Monthly Bonus type of Portfolio/s, percentage of guarantee:

__________________________________

Investment Objective of Portfolio/s:





BENEFITS

HBSI Pension Fund

(HCSBC Members)

FUND APPLYING FOR EXEMPTION

Death Benefits

Share of Fund, plus 3x Annual Pensionable Salary

Retirement Benefits

Share of Fund

Disability Benefits

Share of Fund plus 3x Annual Pensionable Salary after 6 months waiting period

Resignation / Retrenchment / Dismissal Benefits

Share of Fund

Funeral Benefits

Main member / Spouse        R10 000-00

Child 14 to 21 years        R10 000-00

Child 6 to 13 years        R 5 000-00

Child 1 to 5 years        R 2 500-00

Stillborn to 11 months        R 2 500-00

 

Critical Illness Benefit

R 50,000.00 benefit to an insured who is diagnosed with any of the 16 Critical illness conditions specified





Full Pension Fund documentation of Fund applying for exemption must be attached, including signed quotation, Special Rules, etc.

 

YES

 

NO

 

Does the Rules allow for resignation benefits to be paid whilst still working in the Industry

 

YES

 

NO

 

Name of Person Completing Form:

Designation of Person Completing Form:

 

Telephone  Number:

 

Signature

On completion, please return to [email protected]

 

List of Employees (each Employee to sign a letter of understanding, see example below)

 

SURNAME

FIRST NAME/S

I.D. NUMBER

BARGAINING  COUNCIL NO.

SIGNATURE OF EMPLOYEE








































 

Example of letter to be signed by every Employee:

 

"I, ................................., ID Number ............................ Hereby declare that I understand the consequences of the application of Exemption of the HBSI Pension Fund. I agree to abide by the outcome.

 

Signature: ............................ Date: ............................

 

Full Name and Surname: ............................................. "