Notes to the financial statements | Note 35

The Group participates in the Alexander Forbes Retirement Fund. This is an umbrella fund arrangement created for the provision of retirement benefits.

The Fund is a defined contribution plan and is governed by the Pension Funds Act, No 24 of 1956.

The financial position of the Alexander Forbes Retirement Fund (Provident Section): Italtile Limited is currently reviewed on a monthly basis.

As at 30 June 2025 and 2024, the Fund was found to be in a sound financial position.

At 30 June 2025, 1 599 (2024: 1 494) employees of the Group and franchisees were members of the Fund, to which the Group and franchisees contributed R41 million (2024: R44 million) and the employees Rnil (2024: Rnil). The Fund is open to all permanent staff with their participation thereof being a condition of employment.

Their dependants are eligible for death benefits accruing from the Fund in the event of the member's death.

All permanent full-time employees of franchise stores are required to participate in the Fund.

Ceramic Industries

In South Africa, Ceramic contributes to two defined contribution retirement funds for its employees which are governed by the Pension Funds Act, No 24 of 1956.

The funds are administered by Alexander Forbes.

At 30 June 2025, 883 (2024: 987) employees of Ceramic were members of the funds, to which Ceramic contributed R23 million (2024: R25 million). All permanent employees are required to join one of the funds.

In Australia, Ceramic contributes the legislated defined contribution amounts in the various superannuation funds specified by its 60 (2024: 60) employees.

Ezee Tile

Ezee Tile contributes to three defined contribution retirement funds for its employees which are governed by the Pension Funds Act, No 24 of 1956.

The funds are administered by Alexander Forbes, Hospitality and General Provident Fund, and Old Mutual. Alexander Forbes is open to all new permanent staff with their participation thereof being a condition of employment. Their dependants are eligible for death benefits accruing from the funds in the event of the member's death.

As at 30 June 2025, 124 (2024: 160) employees of Ezee Tile were members of the funds, to which Ezee Tile contributed R3,2 million (2024: R2,9 million) and employees contributed R1,0 million (2024: R1,0 million).