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ACKNOWLEDGEMENT OF
LIABILITY AND AGREEMENT TO
PAY
1.

PARTIES
EMPLOYER NAME _________________________________________________________________________________________

2.

FULL NAMES OF EMPLOYEE/MEMBER _________________________________________________________________________

BACKGROUND

2.1
The Employee/Member is a member of a retirement fund sponsored by the Employer;
2.2
In terms of Section 37D(1)(b)(ii) the Pension Funds Act 24 of 1956, a retirement fund may make certain
authorised
deductions directly from a member’s retirement benefits for transmission to the Employer where such
member has admitted liability;
2.3 This agreement serves to amplify the rights of an Employer against an Employee/Member vis-à-vis the
retirement fund.

3.

4.

ACKNOWLEDGEMENT
3.1

The Employee/Member acknowledges himself to be truly and lawfully liable to the Employer in an
amount as set out in this document;

3.2

The Employee/Member acknowledges that this debt / liability vis-à-vis the Employer had orig