The Private Security Sector Provident Fund has over 330 000 active members and assets worth more than R 5.7 billion. The Fund through its Board of Trustees has maintained a solid track record in protecting members’ interest and safeguarding the value of active members’ retirement savings.
Since the PSSPF came into effect in 2002, it is improving members and their families’ lives by providing better retirement, disability, death and funeral benefits. The provision of such benefits has directly and indirectly benefited more than 2 million families who are part of this legislated fund.
The Fund is managed by the Board of Trustees representing stakeholders in the private security sector. The Trustees were appointed by their respective Trade Unions and Employers Organisations based on the criteria contained in the rules of the Fund. An independent Trustee is also appointed in line with these rules.
Based on the rules, The Trustees will remain in office for a period of five years. Their role and responsibility amongst others, is with due care and diligence act in the best interest of the Fund and its members and take all reasonable steps to protect the interest of members.
It is the objective of the Private Security Sector Provident Fund to make certain that employers are compliant and that the employees in the security sector are not denied the Provident Fund benefits. The Fund in fulfilling its objective works in conjunction with enforcement agencies such as Private Security Industry Regulatory Authority (PSIRA), Department of Labour, South African Police Services (SAPS), Financial Services Board (FSB), Pension Fund Adjudicator (PFA), Trade Unions, Employers Organisations, Employers and Members.