NEHAWU Provident Fund
The NEHAWU National Provident Fund is a Defined Contribution (DC) fund with defined employer and employee contributions. The Fund provides retirement, withdrawal, death, funeral and disability benefits to members, and their dependants. The Fund is registered as a privately administered provident fund in terms of the Pension Funds Act of 1956 and approved as a provident fund in terms of the Income Tax Act of 1962.
The Fund is governed by a Board of Trustees. The Board had established the following subcommittees: Administration, Audit and Complaints Committee, Investment, Actuarial and Communication Committee, and Risk (Death and Disability Benefits) Committee,The Subcommittees report to the Board on these matters.The Board of Trustees comprises the following:
- Five Trustees appointed by Nehawu, the Union;
- Two Trustees elected by members ;
- Four Trustees appointed by participating employers
- Two Independed Trustees elected by the Board.