Reminder to all our Provident fund clients to ensure that their February contributions are received and allocated before the 28th of February 2021.
By now you are all aware of the important implications for provident fund members when legislation around the annuitisation of provident funds becomes effective 1 March 2021.
To ensure that you optimise your vested rights, please make sure your provident fund contributions are paid up to date and that the February 2021 contributions are paid before 28th Feb 2021.
Member data must also be finalised before 28 February 2021, as Insurers will not be able to allocate contributions if no data is received or employer portal has not been updated.
For more info please see our December newsletter.