The Group ensures that all qualifying employees are members of voluntary and statutory pension schemes managed through self-administered defined contribution pension schemes and the relevant statutory bodies.
The Group administers the IAL Pension Fund and the National Foods Pension Fund.
The objective of the Pension Fund is to provide benefits for employees and former employees on their retirement (through age or ill health) and for their dependents. Each employee member contributes 7% to the Fund from their pensionable salary, reduced by the monthly contributions made by the employee to that National Social Security Authority (NSSA). Normal retirement age is 55 years of age.
Compulsory external schemes comprise the National Social Security Authority Scheme (NSSA), Workers Compensation Insurance Fund and the Catering Industry Pension Fund.
The total contributions to the schemes for the year is presented below:
Lloyd Chipfupi of Colcom was recognised for his 35 years of Long Service
