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Financial Sector

Charter Council

Schedule 1

Voluntary Dispensation

Many aspects of South Africa’s B-BBEE dispensation are not relevant to retirement funds.

Retirement Fund B-BBEE Scorecard

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Element Scorecard Public Disclosure Code Series Reference
Ownership N/A Recommended FS100
Management Control 20 Recommended FS200
Skills Development/ Trustee Education N/A Recommended FS300/500
Preferential Procurement 80 Recommended FS400
Empowerment Financing, Enterprise and Supplier Development N/A
Access to Financial Services
Socio-Economic Development
Total 100

Retirement Fund Detailed Scorecards

Management Control Scorecard
Description Points Target
Board and executive management participation 20
Exercisable voting rights of black board members as a percentage of all board members 8 50%
Exercisable voting rights of black female board members as a percentage of all board members 4 25%
Principal Officer, executive and senior management if applicable 8 50%
PREFERENTIAL PROCUREMENT SCORECARD Points Target y1-3 Target y 3+
B-BBEE procurement spend from all empowering suppliers based on the B-BBEE procurement recognition levels as a percentage of total measured procurement spend 35 75% 80%
B-BBEE procurement spend from empowering suppliers who are QSEs or EMEs based on the applicable B-BBEE procurement recognition levels as a percentage of total measured procurement spend 10 15% 25%
B-BBEE procurement spend from empowering suppliers that are at least 51% black owned based on the applicable B-BBEE procurement recognition levels as a percentage of total measured procurement spend 25 15% 25%
B-BBEE procurement spend from empowering suppliers that are at least 30% black women owned based on the applicable B-BBEE procurement recognition levels as a percentage of total measured procurement spend 10 7.5% 12.5%
For further information you can download the full document.