In terms of Section 13A(1), the employer is required to pay any contributions to the Fund no later than 7 days after the month end for which such contribution is payable. These contributions should be deposited into the Fund’s bank account and must be reflected therein by the 7th day.

Should the employer fail to pay the contributions over in the prescribed time, late payment interest at the prescribed rate will be levied against the employer in terms of the Pension Funds Act and using the prescribed interest rate.

Should the contributions not be paid, various processes as prescribed will be followed to recover the monies from the Employer, failing which, the Fund will be obliged to follow the reporting procedure as stipulated in the Act.

It is important for the Employer to establish whether the Employee is an existing member of the Fund i.e. if the new employee was previously employed by an associated Municipality and was contributing to the Fund’s this change from one Municipality to another, is merely an LA Switch for the member and not classified as a new entrant. The Fund will move the members benefits to the new LA/Municipality in the same Fund with the same contribution rate.

For new members, the following information will need to be submitted to the fund as soon as the member joins the fund:

• New member form
• Copy of Identity Document
• Fund election form

It is important to note that all forms need to be completed in full and signed.

New members are also required to complete a medical certificate. Further details can be obtained by contacting our Client Services Department.

Please be advised that Ithala SOC Ltd is currently undergoing provisional liquidation, and as a result, all Ithala clients are unable to access their deposits, make withdrawals, or process any transfers. This has an immediate impact on pension-backed home loan repayments. 

Download Ithala Notice 

Download Banking Confirmation