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ASPF Brochure
Agricultural Sector Provident Fund (ASPF)
The Agricultural Sector Provident Fund comprises various plans, with each plan offering unique benefits. These plans are compiled in such a way as to offer individual member’s death, capital disability, accidental death/bodily loss and funeral benefits at affordable premiums with the inclusion of a savings component. The savings component is based on the gross contributions for every member of the Fund less the costs of administration, death, capital disability, accidental death/bodily loss and funeral benefits. The effectiveness of the savings component depends on the level of contributions, as well as the period over which contributions are made. The savings period of members who only joined the Fund at an older age is much shorter than those of younger members and subsequently, their Fund values will also be lower at retirement.The Fund is extremely flexible and can satisfy a variety of needs while still straight forward enough to ease administration and limit costs.
WAGE PACKAGES
The below wage packages will be in effect from 1 July 2017 - 30 June 2018.
| PLAN | A2 | B | C2 | D | E |
|---|---|---|---|---|---|
| Contributions | R130 | R150 | R170 | R200 | R340 |
| Death Cover | R12 500 | R15 000 | R17 500 | R20 000 | R30 000 |
| Lump Sum Disability Cover | - | - | - | R20 000 | R30 000 |
| Accidental Death Cover | R12 500 | R15 000 | R17 500 | R20 000 | R30 000 |
| FUNERAL COVER | |||||
| Main Member | R10 000 | R12 500 | R15 000 | R17 500 | R25 000 |
| Spouse | R10 000 | R12 500 | R15 000 | R17 500 | R25 000 |
| Kids 14-21 | R10 000 | R12 500 | R15 000 | R17 500 | R25 000 |
| Kids 6-13 | R5 000 | R6 250 | R7 500 | R8 750 | R12 500 |
| Kids 0-5 | R2 500 | R3 125 | R3 750 | R4 375 | R6 250 |
| Total Cost | R59.07 | R69.18 | R79.30 | R96.98 | R139.13 |
| Net Retirement Savings (Contribution less total cost) |
R70.93 | R80.62 | R90.70 | R103.02 | R200.87 |
Pre-existing conditions will be excluded from the Capital Disability Benefit. Subject to the terms and conditions.
SALARY PACKAGES
The below salary packages will be in effect from 1 July 2017 - 30 June 2018.
| PLAN | SAL1 | SAL2 | SAL3 | SAL4 |
|---|---|---|---|---|
| Contributions | R500 | R750 | R1 000 | R2 500 |
| Death Cover | R100 000 | R150 000 | R200 000 | R500 000 |
| Lump Sum Disability Cover | R100 000 | R150 000 | R200 000 | R500 000 |
| Accidental Death Cover | R50 000 | R75 000 | R100 000 | R250 000 |
| FUNERAL COVER | ||||
| Main Member | R35 000 | R35 000 | R35 000 | R35 000 |
| Spouse | R35 000 | R35 000 | R35 000 | R35 000 |
| Kids 14-21 | R35 000 | R35 000 | R35 000 | R35 000 |
| Kids 6-13 | R17 500 | R17 500 | R17 500 | R17 500 |
| Kids 0-5 | R8 750 | R8 750 | R8 750 | R8 750 |
| Total Cost | R173.05 | R232.05 | R291.05 | R645.05 |
| Net Retirement Savings (Contribution less total cost) |
R326.95 | R517.95 | R708.95 | R1 845.95 |
The salary plans are applicable to members earning above R10 000 per month.
Pre-existing conditions will be excluded from the Capital Disability Benefit. Subject to the terms and conditions.
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