Welcome to the first edition of Masithethe – isiXhosa for Let’s Talk.
We are committed to improving communication between employers and the Fund. This newsletter is one of the initiatives aimed at bringing relevant news and information to your attention.
If you have ideas for future topics or any other queries please do not hesitate to send me an email on [email protected]
Kevin Barnes
Principal Officer
Prepare now for your employee’s retirement
The Government has recently announced that all members who receive benefits from a pension or provident fund must be registered as taxpayers, regardless of their income or the size of their benefits. This places an added responsibility on you as the employer.
Please be proactive and ensure that all your Thacsa members are registered with the SA Revenue Service so as to avoid delays later when they are looking to claim their Fund benefit.
Encourage your employees to increase their retirement savings
While everyone seems to be under financial stress there’s still a real case for increasing retirement savings over and above the basic monthly contributions. If you are distributing bonuses or profit-sharing schemes during the year, encourage staff to make additional voluntary contributions (AVC) to their Thacsa Fund. Here’s why:
There could be real tax savings
*There is total control, the AVC can be increased or stopped at any time.
*Retirement funds are ring-fenced from creditors; it is the safest form of savings possible .
*There are no additional fees, every cent goes directly to the member’s Fund Credit.
Download the form here.
Online portal makes your job so much easier
The Employer Portal is the ideal way to carry out almost all of the administrative functions you are required to do for the Fund. The Portal enables you to update member information, print benefit statements on demand among a whole host of other functionality.
Let’s get rid of paper, enrol today for the Employer Portal. Click here to download the application form, or call the Help Desk on 021 421 0190 for more information.
Thank you for taking the time to read through our first edition of Masithethe. If you have any questions regarding Thacsa please email us on [email protected] or call the HelpDesk on 021 421 0190.