The LWO is a founding member of the Agricultural Sector Provident Fund (ASPF).
Recognition can rightly be given to the way in which employers in the agricultural sector continuously act in the interests of employees. Financial planning is an important aspect that every worker should pay attention to and therefore it is also important that an organisation such as the LWO Employers Organisation will participate in initiatives to provide affordable retirement, disability, death and funeral benefits for farm workers.
The ASPF offers several affordable plans with unique benefits to employees. The ASPF is managed by a Board of Trustees, with representation by Sanlam, the LWO, Agri SA, TLU SA and independent Trustees. The Board of Trustees looks after affordable contributions, as well as competitive benefits for participating farm workers.
Take note of labour law!
When an employer makes the decision to offer the benefit of a provident fund as a condition of service, existing employees are given the option of belonging to the fund or not. This choice is exercised in writing and is kept on record. Employees who are employed after this decision has been made are obliged to belong to the fund.
It is important for employers to note that the Employment Equity Act also applies to benefits such as a provident fund. This code is structured to ensure that employees are treated fairly on an ongoing basis and to eliminate unfair discrimination in the workplace.
"Empowering you, so you can empower your workforce"
Since 1991 ASPF has been improving the lives of farm workers and farmers by providing flexible risk and provident fund solutions, with a growing membership of 20 000. The time spent in the agricultural sector has proven ASPF as a reputable and trusted provident fund.
ASPF specialises in risk and provident products in the niche, agri environment. ASPF knows that no farm or agricultural structure is the same and therefore delivering a unique, versatile product is essential to the market. ASPF’s product is extremely flexible and can satisfy a variety of needs, while still being uncomplicated to ease administration and limit costs.
ASPF is supported and managed by a board of trustees originating from, Agri SA, TLU SA and LWO, together with professional independent Trustees.