The long-awaited retirement reforms came into effect on 1 March 2021. The reforms, also known as T-Day, mean that retirement benefits under provident funds and provident preservation funds will be subject to compulsory annuitisation.

Avishal Seeth, Head of Sanlam Umbrella Solutions, Reinier Van Gijsen, Head of Pricing, Sanlam Corporate: Group Risk and Michele Jennings, CEO of Sanlam Corporate: Group Risk, recently hosted a webinar discussing the legislative framework relating to vested rights of members over the age of 55 and the impact of COVID-19 on group insurance.

In dealing with the Covid-19 pandemic Sanlam was guided by its purpose: Empowering Generations to be Financially Confident, Secure and Prosperous. The Group rolled out technology and support to ensure that clients could be provided with appropriate advice to deal with the financial impacts of the pandemic.