Tuesday, 02 July 2013 17:00

BIBC report increase in industry employee contributions

Despite the present slump in the building industry and the economy in general, the Building Industry Bargaining Council (BIBC) has recorded a 4 per cent increase in contributions purchased this year compared to the same period last year. Added to this, the month of June showed an increase of 16% despite the onset of winter. "This is an astounding increase, considering that June is usually a bad time for the industry," said Arnold Williams, Secretary for Building Industry Bargaining Council (Cape of Good Hope).

  • Since the beginning of November 2012, the BIBC has successfully registered 201 new employers who are now contributing to the employee benefits as required by law.
  • Most industries are cyclical, however, the building industry is particularly affected by external factors.
  • The number of contributions purchased peaked to over 1 million in 1992, gradually reducing to a very low 300 000 and then peaked again to over a million in 2007, which coincided with the end of the economic boom.
  • The cycle continued declining year-on-year to below 800 000 between 2010 and 2012 when the global economic crisis impacted badly on the building Industry.
  • In 2012 the BIBC reported a 5% increase in volumes, and should the current trend continue, another increase may very well be achieved by the end of this year.

The BIBC's public awareness campaign includes regular newspaper articles, radio interviews and advertising. In addition, the website has been designed to assist the public in establishing a potential contractors' compliance.

Visit www.bibc.co.za and click on 'compliant employers' tab. Should you still need help, call 021 950 7400 to enquire whether a builder is registered and compliant.