Attention: Financial manager/Payroll administrator
Please note that as per the Rules of the Metal Industries Provident Fund and the Engineering Industries Pension Fund as ratified by the Parties of the Metal & Engineering Bargaining Council the contribution rate for both Funds, Metal Industries Provident Fund and Engineering Industries Pension Fund, will increase AS FROM 1 JULY 2022
The contribution rate for employer will increase from the current 7.6% to 7.7% of pensionable remuneration.
The contribution rate for employees remains unchanged at 7.5%. Please ensure that your monthly return for the month of July 2022 reflects this new contribution rate.
Please inform your payroll service provider of the change.
Yours faithfully
_________________________
Contributions Department