The Cape Clothing Industry Provident Fund (CCIPF) was established on 12 March 1954. It exists as part of collective bargaining under the auspices of the National Bargaining Council for the Clothing Manufacturing Industry.

Who must join the Fund?

All employees of employers in the Clothing Industry that are obliged to observe the terms of the National Bargaining Council for the Clothing Manufacturing Industry Consolidated Provident Fund Collective Agreement for the Western Cape Region (“the Agreement”) that fall within the scope of the Agreement must join the Fund.

Overview

The Fund is a Defined Contribution Provident Fund, which means that the contribution levels (both member and employer) to the Fund are defined at the outset and only changed by way of agreement between the Participating Employers and Union from time to time.

The combined contribution, net of the cost of the risk benefits and Fund’s operating expenses, is invested on behalf of the members to accumulate value, that will ultimately be paid to members as their retirement benefit or such other benefit, should it become payable prior to a member’s retirement.

Objectives

The Fund’s primary objective is to provide good retirement benefits for members reaching retirement age. Additional benefits are in place to provide assistance for members’ dependants should the member die, and for the member, should he/she become permanently disabled as a result of illness or an accident.