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Claims Processing Gets Faster: Retirement and Withdrawal Claims Now Paid in 10 Days
We’ve accelerated claims processing! Retirement and withdrawal claims are now paid within 10 working days, thanks to automation under the Two-Pot Project. This milestone improves member outcomes and service efficiency. Note: 10 working days starts once all required information is received.
Important Update: PCC 59 and Beneficial Ownership Requirements
PCC 59 outlines FICA’s beneficial ownership requirements to combat financial crime and ensure transparency. Institutions must identify and verify individuals who ultimately own or control clients. Failure to verify may prevent relationships and trigger reporting obligations.
From Buzzword to Benchmark – A word from the Transformation Committee
The Sanlam Umbrella Fund sets a bold benchmark for transformation in South Africa’s retirement industry, appointing Ms. Jolly Mokorosi as its first female Chair. SUF’s inclusive leadership and commitment to ethical governance reflect transformation by conviction, not obligation—leading change, not waiting for it.