Membership and management
Membership and management
The fund has grown to accommodate more than 3500 contributing members and hundreds of participating employers across South Africa. When an employer first decides to participate in the fund, existing employees have 12 months to exercise the option to join. After this, membership is compulsory, and all employees must join as a condition of employment.
Trustees
The fund is managed by a board of trustees, “the trustees”. The trustees have a duty to act with due care, diligence and in good faith and to act in the best interests of the fund. They have to exercise a higher degree of care and diligence in managing the affairs of the fund than they would in managing their own affairs. It is vital that the trustees act impartially and take all reasonable steps to ensure that the interests of all members are protected at all times.