MEC, ABSA Small Business/Domestic Provident Fund (ASPBF)





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ABSA Small Business/Domestic Provided Fund (ASPBF)

This unique Employee Benefits solution offers retirement, withdrawal, death, capital disability and funeral benefits in one comprehensive package. This fund is ideal for small businesses and home employees. Administration by Absa Consultants and Actuaries.

By registering your employees as members of the fund, your social responsibilities towards them at retirement, in the case of disablement or unforeseen death and the resulting funeral costs and financial assistance required by dependants afterwards, decrease significantly.

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Contributions

Contributions and Separate Group Scheme structures from 1 July 2017 to 30 June 2018.

PLAN SM1 SM2 SM3 SM4 SM5 SM6 SM7 SM8 SM9 SM10
Contributions R230 R230 R310 R450 R620 R780 R1 070 R1 500 R1 850 R2 500
Death Cover - R15 000 R25 000 R50 000 R55 000 R75 000 R100 000 R150 000 R200 000 R220 000
Lump Sum Disability Cover - R15 000 R25 000 R50 000 R55 000 R75 000 R100 000 R150 000 R200 000 R220 000
Main Member - R12 500 R15 000 R15 000 R15 000 R15 000 R15 000 R15 000 R15 000 R15 000
Spouse - R12 500 R15 000 R15 000 R15 000 R15 000 R15 000 R15 000 R15 000 R15 000
Child 14-21 - R6 250 R7 500 R7 500 R7 500 R7 500 R7 500 R7 500 R7 500 R7 500
Child 0-13 - R4 375 R5 250 R5 250 R5 250 R5 250 R5 250 R5 250 R5 250 R5 250
Less Total Cost R25.11 R61.46 R80.57 R114.55 R129.44 R150.24 R176.24 R228.24 R280.24 R301.04
Net Retirement Savings R204.89 R168.54 R229.43 R335.45 R490.56 R629.76 R893.76 R1 271.76 R1 569.76 R2 198.96