COMMUNICATION TO MEMBERS OF THE ELECTRICAL CONTRACTING INDUSTRY FUNDS

Attention: Members of the Electrical Contracting Industry Pension Fund and members of the Electrical Industry Provident Fund in Regions A and B.

This communication is written as we commence 2021 having barely survived the nightmare of 2020. That nightmare has followed us into 2021 with the ferocious second wave of COVID-19. The pandemic is no longer a tale told by others about people we do not know. It is affecting our own families, friends, and colleagues. We must survive. We must continue planning for the future and not let our vision be limited by current difficulties.

In this member communication, we provide an update on the investment mandate that was given to JM Busha, your 2019 Benefit Statement’s distribution and the 2021 member forums.

JM Busha/Bushiri

The Fund will continue in its best endeavours, via litigation and other means, to recover the investments that had been placed with Shepherd Bushiri Investments (SBI) by JM Busha without the authority of the Fund’s Board of Trustees. It is important to note that no Provident Fund monies were invested with JM Busha.

Your 2019 benefit statements

The distribution of the benefit statements had been delayed due to the Covid-19 lockdown, which had a knock-on effect on the handover from Momentum to Salt Employee Benefits.  The distribution of your benefit statements began in December 2020. Due to the sheer magnitude of this activity, and the annual shutdown, it may be that the distribution of all benefit statements will only be completed by end-February 2021.

If you have not received your benefit statement by then, please contact the Funds via one of the channels listed below.

In order to ensure a speedier benefit statement distribution process going forward, kindly provide us with your email address and cellular phone number.

Landline: (010) 442 6788

Email: eci@funds.co.za

WhatsApp:  068 210 6783

Call Centre

Ireen: 063 758 2270

Kagiso: 082 284 1301

Shonisani: 082 283 8988

Portia: 067 393 2613

Please remember to provide your full names and identity number when corresponding with us.

Member Forums 2021

Please be on the lookout for updates regarding the Member Forums, which will be provided via our newsletters and our website.

We are prepared to travel to where our members are and answer any questions they may have about their funds and rights as well as requests for improvement.

We want to improve transparency and accountability to members. As soon as COVID-19 dangers are under control, we will announce appropriate plans. 

Looking ahead

During 2020, most Funds focused on what could be done to survive the worldwide uncertainty. However, it is still important to remember to pause, breathe and look up from the current circumstances.  Where some see challenges, we see opportunity, adaptability and innovation.

We call on all our members to respect social distancing and the COVID-19 regulations.

Random Posts