The Swaziland National Provident Fund was established in 1974 as a savings scheme, the main purpose of which is to provide benefit for employed persons when they retire from regular employment in old age or in the event of becoming incapacitated.
All employers of labour in Swaziland are required by law to become contributing members of the fund, and must pay a contribution for every eligible staff member. The employee's share (one half of the stipulated amount) is deducted from wages.
The Fund is administered by an independent Board appointed by the Minister for Labour and Social Security to represent the Swazi National Council, Employers, Workers and Government. The Board and Board Committees The Board is made up of thirteen (13) members. Three of them represent Employers, three represent Employees, four represent the Government of Swaziland, and two represent the Swaziland National Council and finally the Chief Executive Office of the Fund.