ABSA Small Business Provident Fund - Contribution Structure - Print page

Consultants and Actuaries

ABSA Small Business Provident Fund
Benefit and Contribution Structure

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Please note: The Absa Small Business Provident Fund fees will change from 1 August 2010, starting from a minimum contribution of R115.00 p.m.

Plan	Inv	C	D	E	F	G	H	I	J
Contribution p.m.	R115.00	R115.00	R154.00	R223.00	R308.00	R530.00	R742.00	R1,039.00	R1,250.00
Death Cover	-	R10 000	R15 000	R25 000	R50 000	R75 000	R100 000	R150 000	R200 000
Capital Disability Cover	-	R10 000	R15 000	R25 000	R50 000	R75 000	R100 000	R150 000	R200 000
Funeral:	-
Member	-	R7 500	R10 000	R10 000	R10 000	R10 000	R10 000	R10 000	R10 000
Spouse	-	R7 500	R10 000	R10 000	R10 000	R10 000	R10 000	R10 000	R10 000
Child 14 - 21	-	R3 750	R5 000	R5 000	R5 000	R5 000	R5 000	R5 000	R5 000
Children 0 - 13	-	R2 625	R3 500	R3 500	R3 500	R3 500	R3 500	R3 500	R3 500
Total cost	R16.56	R44.86	R61.85	R84.68	R129.29	R193.43	R250.40	R315.40	R380.40
Net Retirement savings	R98.45	R70.15	R92.16	R138.32	R178.71	R336.58	R491.60	R723.60	R869.60

Inv = Investment only

Expected Retirement Benefit (age 65)

Entry Age	Plan 1 (Inv) R115.00		Plan 3 (C) R115.00		Plan 4 (D) R154.00
	0%	5%	0%	5%	0%	5%
20	475,172	941,876	339,294	671,129	445,749	881,699
25	319,153	603,041	227,413	429,693	298,765	564,512
30	212,293	380,658	151,268	271,236	198,729	356,338
35	139,564	235,751	99,446	167,983	130,647	220,688
40	90,066	142,177	64,176	101,307	84,312	133,093
45	56,378	82,447	40,172	58,747	52,776	77,180
50	33,451	44,895	23,835	31,990	31,314	42,027
55	17,847	21,766	12,717	15,510	16,707	20,376
60	7,228	7,928	5,150	5,649	6,766	7,421

Entry Age	Plan 5 (E) R223.00		Plan 6 (F) R308.00		Plan 7 (G) R530.00
	0%	5%	0%	5%	0%	5%
20	669,011	1,323,314	864,364	1,709,728	1,627,932	3,220,078
25	448,406	847,259	579,343	1,094,662	1,091,126	2,061,671
30	298,267	534,8016	385,362	690,984	725,785	1,301,390
35	196,084	331,224	253,342	427,943	477,140	805,982
40	126,541	199,755	163,491	258,085	307,917	486,073
45	79,210	115,837	102,340	149,661	192,746	281,870
50	46,998	63,077	60,722	81,496	114,363	153,488
55	25,075	30,581	32,397	69,511	61,016	74,415
60	10,155	11,138	13,120	14,391	27,710	27,103

Entry Age	Plan 8 (H) R742.00		Plan 9 (I) R1,039.00		Plan 10 (J) R1,250.00
	0%	5%	0%	5%	0%	5%
20	2,377,716	4,703,162	3,499,827	6,922,718	4,205,983	8,309,507
25	1,593,671	3,011,223	2,345,769	4,432,305	2,819,073	5,326,607
30	1,060,063	1,900,777	1,560,337	2,797,807	1,875,164	3,362,318
35	696,899	1,177,196	1,025,785	1,732,748	1,232,756	2,082,363
40	449,735	709,945	661,978	1,044,989	795,544	1,255,835
45	281,520	411,692	414,377	605,982	497,985	728,250
50	167,035	224,181	245,864	329,978	295,471	396,558
55	89,119	108,688	131,177	159,982	157,644	192,261
60	36,090	39,586	53,122	58,268	63,841	70,025

1. The returns are not guaranteed, but are only projections.

2. It is expected that premiums will rise by 5% per annum.

3. It is expected that the investment return will be 8%.

4. This projection is for illustrative purposes only.

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