The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) has confirmed that while the Metal Industries Pension and Provident Fund Collective Agreements are set to lapse on 30 April 2026, an application has been submitted to extend these agreements for a further 12 months.
Pending formal gazetting by the Department of Employment and Labour, employers affiliated with SEIFSA are required to continue applying the current levy contribution rates without interruption.
This means that both Pension Fund and Provident Fund contributions remain unchanged:
- Employee contribution: 7.50%
- Employer contribution: 8.30%
These deductions are calculated based on pensionable remuneration, defined as ordinary weekly wages excluding allowances such as overtime and bonuses, with specific inclusions for certain adjusted hours.