Hairdressing and Cosmetology Industry Provident Fund Rules (Revised January 2008)

RULES

of the

HAIRDRESSING AND COSMETOLOGY INDUSTRY PROVIDENT FUND

PREAMBLE

The hci Provident Fund (the Fund) was established by Government Notice No. R1640 of 27th October 1995, pursuant to an industrial agreement concluded by the parties to the Hairdressing & Cosmetology Services Bargaining Council semi-national (formerly known as the Industrial Council for the Hairdressing Trade – southern and western Transvaal), and published by the Minister of Labour in terms of section 48 of the Labour Relations Act of 1956, and extended by the Labour Relations Act No. 66 of 1995, as amended.

The objective of the Fund is to raise monies by contributions to provide lump sum retirement benefits to members leaving employment on reaching retirement age, as a result of incapacitation by illness or accident, on retrenchment, or on withdrawal for any other good and sufficient reason.

The registered office of the Fund is at 15 Edward Street, Roodepoort, 1725.

The postal address of the Fund is P.O. Box 1964, Roodepoort, 1725.