About us
After careful consideration The SA Canegrowers Association has partnered with the Agricultural Sector Provident Fund (ASPF) to provide a flexible and tailored provident fund to all the members of the SA Canegrowers Association.
The SA Canegrowers Farm Workers Provident Fund will fill the gap in providing Death & Disability benefits as well as a savings benefit towards retirement for the farm workers on your farm.
Why us?
Every client gets to design their own product according to their needs.
- Allowing you to provide social wellness for your employees instilling assurance and confidence.
- Going into an honest and trusted partnership, offering valuable industry advice.
- Lightening the financial burden of managing a large workforce when risk factors occur.
We are continuously rendering services to the needs of both employer and employee while keeping up with legislation and industry standards.
Products
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Provident fund (Savings)
Provident fund (Savings) Growing and protecting the member’s savings.
Death cover
Death cover Providing a lump sum benefit
Disability cover
Disability cover In the agricultural sector employees depend largely on physical ability, should something happen, disability cover is the ultimate peace of mind.
Accident and bodily loss cover
Accident and bodily loss cover Unfortunate situations occur when working with livestock and large machinery.
Need more insight on how ASPF can assist you?
Services
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Prioritise withdrawal and retirement claims.
Annual member benefit statements.
Assisting the beneficiaries with claims and payments.
Beneficiary trust fund in the event of payments to minors.
Member sessions can be arranged for larger groups in African languages.
After joining the fund, members will receive a certificate of participation.
A management committee meeting can be arranged once per annum, depending on the size of the client.
For more information, download our brochure.
Tariffs
Tariffs
To make provision for different needs, different benefit plans are offered. The benefit structures are set out in the tables below:
STANDARD OPTIONS: WAGES
Benefit structures for smaller employers with less than 30 members
FIXED BENEFIT PLANS TO CHOOSE FROM:| PLAN | PLAN A | PLAN 1 | PLAN 2 | PLAN 3 | PLAN 4 | |
| CONTRIBUTION | R160.00 | R160.00 | R206.00 | R246.00 | R412.00 | |
| DEATH COVER | Cover | R0.00 | R20,000.00 | R30,000.00 | R40,000.00 | R50,000.00 |
| Premium | R0.00 | R22.00 | R33.00 | R44.00 | R55.00 | |
|
CAPITAL DISABILITY COVER |
Cover | R0.00 | R0.00 | R0.00 | R40,000.00 | R50,000.00 |
| Premium | R0.00 | R0.00 | R0.00 | R14.40 | R18.00 | |
| ACCIDENTAL DEATH/BODILY LOSS COVER |
Cover | R0.00 | R20,000.00 | R30,000.00 | R40,000.00 | R50,000.00 |
| Premium | R0.00 | R6.00 | R9.00 | R12.00 | R15.00 | |
| ADMINISTRATION FEE |
Member fee | R18.83 | R18.83 | R18.83 | R18.83 | R18.83 |
| Consultation fee | R9.20 | R9.20 | R11.85 | R14.15 | R23.69 | |
| LESS TOTAL COST | R28.03 | R56.03 | R72.68 | R103.38 | R130.52 | |
| NET CONTRIBUTION | R131.97 | R103.97 | R133.32 | R142.62 | R281.48 | |
| % OF CONTRIBUTION | 82.48% | 64.97% | 64.72% | 57.98% | 68.32% |
TAILOR-MADE BENEFIT OPTIONS
TAILOR-MADE BENEFIT OPTIONS FOR LARGE EMPLOYERS WITH MORE THAN 30 MEMBERS.
| LUMP SUM DEATH AND DISABILITY BENEFITS | COST AS % OF SALARY | ||
| DEATH AND DISABILITY BENEFIT | BENEFIT | ||
| OPTION 1 | 1x ANUAL SALARY | 1.05% | |
| OPTION 2 | 2x ANUAL SALARY | 2.10% | |
| OPTION 3 | 3x ANUAL SALARY | 3.15% | |
| OPTION 4 | 4x ANUAL SALARY | 4.20% | |
| ACCIDENT INSURANCE RATES | COST AS % OF SALARY | ||
| ACCIDENT/BODILY LOSS INSURANCE BENEFIT | BENEFIT | ||
| OPTION 1 | 1x ANUAL SALARY | 0.19% | |
| OPTION 2 | 2x ANUAL SALARY | 0.38% | |
| OPTION 3 | 3x ANUAL SALARY | 0.56% | |
| OPTION 4 | 4x ANUAL SALARY | 0.75% | |
| TEMPORARY INCOME DISABILITY INSURANCE | COST AS % OF SALARY | ||
| TEMPORARY INCOME DISABILITY INSURANCE | BENEFIT | ||
| 75% OF PENSIONABLE SALARY | 0.20% | ||
| PENSIONS FOR 6 MONTHS | |||
| 1 MONTH WAITING PERIOD | |||
BELOW CALCULATIONS ARE BESED ON MINIMUM WAGE OF R 4 229.55 PER MEMBER PER MONTH.
| 6% CONTRIBUTION | 8% CONTRIBUTION | 10% CONTRIBUTION | ||||
| COST | R | COST | R | COST | R | |
| EMPLOYER CONTRIBUTION | 3,000% | R126.89 | 4,000% | R169.18 | 5,000% | R211.48 |
| EMPLOYEE CONTRIBUTION | 3,000% | R126.89 | 4,000% | R169.18 | 5,000% | R211.48 |
| TOTAL CONTRIBUTION | 6,000% | R253.77 | 8,000% | R338.36 | 10,000% | R422.96 |
| 1x ANUAL SALARY | 2x ANUAL SALARY | 3x ANUAL SALARY | ||||
| (1) Sanlam Group Risk | COST | R | COST | R | COST | R |
| DEATH BENEFIT | 0,86% | R36.37 | 1,73% | R73.17 | 2,59% | R109.55 |
| DISABILITY BENEFIT | 0,19% | R8.04 | 0,38% | R16.07 | 0,56% | R23.69 |
| TOTAL CONTRIBUTION TO GROUP RISK INSURANCE | 1,05% | R44.41 | 2,11% | R89.24 | 3,15% | R133.23 |
| (2) AGRICULTURAL SECTOR PROVIDENT FUND (ASPF) CONTRIBUTION | COST | R | COST | R | COST | R |
| ASPF CONTRIBUTION | 4,95% | R209.36 | 5,89% | R249.12 | 6,85% | R289.72 |
| LESS ADMINISTRATION FEE (a) | 0,445% | R18.83 | 0,445% | R18.83 | 0,445% | R18.83 |
| LESS ADMINISTRATION FEE (b) | 0,285% | R12.04 | 0,339% | R14.32 | 0,394% | R16.66 |
| NETT SAVINGS PER MONTH | 4,220% | R178.49 | 5,106% | R215.97 | 6,011% | R254.24 |
| TOTAL CONTRIBUTION TO SANLAM GROUP RISK (1) | R44.41 | R89.24 | R133.23 | |||
| TOTAL CONTRIBUTION TO ASPF (2) | R209.36 | R249.12 | R289.72 | |||
| TOTAL MONTHLY CONTRIBUTION (1+2) | R253.77 | R338.36 | R422.96 | |||
Contact
Contact Us
Email:
support@mecconsult.co.za
Call:
Marketing Consultant-
Meshack Mavuso: 082 727 2608
Support: (012) 845 0001