| Notes to the consolidated annual financial statements | Note 26 |
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The Group operates a number of pension plans for the benefit of all its employees throughout the Group, which vary depending on the conditions and practices in the countries concerned. The Group’s pension plans are provided through defined contribution
schemes. Defined contribution schemes offer employees individual funds that are converted into benefits at the time of
retirement. Current contributions to the defined contribution schemes amounted to R280 million (2016: R258 million). South
African funds are governed in terms of the Pension Funds Act of 1956. The assets in the funds are held in separate accounts and
funds are raised through payments from employees and the Group. |
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