Sunday, 22 December 2024

FINANCIAL RESULTS AS AT 31 MARCH 2007    
     
     
BALANCE SHEET- AS AT 31 MARCH 2007
   
R'000
FIXED ASSETS & INVESTMENTS (AT MARKET VALUE)  
40 346 147
CURRENT ASSETS  
5 325 157
SUB TOTAL  
45 671 304
LESS : CURRENT LIABILITIES  
(689 857)
ACCUMULATED FUNDS
TOTAL
44 981 447
REVENUE AND EXPENDITURE - 1 APRIL 2006 TO 31 MARCH 2007
CONTRIBUTIONS RECEIVED  
243 918
TRANSFERS RECEIVED  
1 505
INVESTMENT INCOME  
9 789 754
TOTAL REVENUE  
10 035 177
  LESS: TOTAL ADMINISTRATION EXPENSES  
( 54 204)
  BENEFITS PAID AND TRANSFERS OUT  
(902 708)
  TAXATION  
( 55 701)
NET EXPENDITURE  
(1 012 613)
ADD ACCUMULATED FUNDS AT BEGINNING OF YEAR  
35 958 883
ACCUMULATED FUNDS AT END OF YEAR  
44 981 447
 

INCOME AND BENEFITS PAID

Contribution and Investment income for 2007 amounted to (R10 035 million). Benefits paid and transfers out of the Fund totalled R903 million. In terms of the Industrial Agreement, members contribute 6,6% of pensionable remuneration. Employers contribute at a rate of 6,6% of pensionable remuneration.
 
 

 

BENEFITS PAID Rm

ASSETS Rm

 
 
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