Tuesday, 08 December 2015 13:00

BIBC announces record leave and bonus payout

The Building Industry Bargaining Council (Cape of Good Hope) has announced another record payout. Following a recorded 31% increase in industry compliance, the leave and bonus payout to employees is in excess of R161 million - 23% higher than the previous year's R131 million.

"The Council's increased focus on Compliance, specifically by increasing the number of Compliance Agents to conduct site inspections, has had the biggest impact on the increase in the annual payout," said Ronel Sheehan, Secretary for the Building Industry Bargaining Council (Cape of Good Hope).

  • The number of employers contributing to the funds increased by almost 50%
  • Employees contributing increased from 2286 employers to 3375
  • The number of employees receiving benefits has increased by 31% during the 2015 benefit year
  • 47 000 employees will be paid out by the BIBC
  • The leave and bonus funds are paid over to the industry employees in December.
  • All funds are paid into employees' banking accounts.