The contribution rate as a percentage of your DPA is set out below.

This contribution structure applies with effect from   
1 July 2019
Total % of DPA 20.912 22.5
   • UCTRF GLA (6x cover) N/A 1.15
   • Disability Income N/A 0.76
   • Separate lump sum death and disability cover
   • (3x DPA iro contract staff whose contract started before 1 July 2017; 1x DPA iro other staff)
1.26 0.42
   • Administration Fee 0.159 0.159
   • Other expenses (UCT, Audit, Actuarial, Secretarial, FSCA levies, Bank charges) 0.201 0.201
Sub-total 1.62 2.69
Total % of DPA towards retirement 19.292 19.81
Funeral cover (applicable to members who do not opt out from this benefit) will also have a   
deduction of R19.75 per month deducted from their contribution to cover the opt out 
immediate family funeral cover)
R19.75 per 
member per month
R19.75 per 
member per month

When can I change my DPA?

Whenever your CoE changes, you may change your DPA percentage, which will result in a bigger or smaller contribution to the UCTRF. Increasing or decreasing your DPA will also automatically increase or decrease your death and disability cover. Please note, however, that the contribution is debited from your CoE so a change to your DPA will affect your take-home pay.

The DPA amounts are optional between 50% and 100% subject to the following conditions:

(i) Staff who increase their DPA by more than 10% may be required to complete a health questionnaire for the Insurer who reserves the right to limit the cover based on their underwriter’s assessment.

(ii) Once a member has changed their DPA they can only change it again at a future annual CoE review.

Contact your HR Practitioner if you want to increase your DPA who will assist you with completing the relevant forms.

Can I make Additional Contributions to the UCTRF?

The UCTRF rules also allow the Employer to make Additional Contributions to the UCTRF on the member’s behalf. The Additional Contributions are based on DPA and are for the purpose of increasing Accumulated Retirement Savings.

Whenever your CoE changes, you may elect to make Additional Contributions of between 1% and 10% of your DPA. Please note, however, that the contribution is debited from your CoE so making an Additional Contribution will reduce your take-home pay.

In addition, you may make a lump sum contribution to the UCTRF from any lump-sum payment you receive from your Employer (up to 55% of the lump sum). 

Contact your HR Practitioner should you be interested in having Additional Contributions made on your behalf or if you want to increase your DPA.

Can I transfer money from a previous fund into the UCTRF

Yes. This amount will be credited in full to your Accumulated Retirement Savings. If your previous fund was a Provident Fund the transfer will betax free; but if it was a Pension Fund, you be taxed on the transferred amount. The UCTRF is registered as a Provident Fund, and a transfer from a Provident Fund to a Pension Fund is nottax free.

Please refer to the section on taxation of contributions for more on this topic.

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