Sanlam Umbrella Fund Consultant Toolkit
This monthly toolkit is a communication channel between the Sanlam Umbrella Fund trustees, the Fund’s Administrator and supporting intermediaries. It contains all Fund related information and updates that intermediaries will require.
Quick links
Fund updates
Sanlam Unity Umbrella Fund Moves to 100% Stable Bonus Fund Strategy
The Sanlam Unity Umbrella Fund investment strategy has been streamlined to invest 100% in the Sanlam Stable Bonus Fund. This follows the removal of market value adjustments on Savings Pot withdrawals from 1 April 2026, eliminating the need for the precautionary cash allocation introduced ahead of the Two Pot Retirement System.
Sanlam Umbrella Fund appoints Dr Nthabiseng Moleko as Sponsor-Appointed Trustee
The Sanlam Umbrella Fund has appointed development economist Dr Nthabiseng Moleko as Sponsor-Appointed Trustee, strengthening its governance and expertise. Her extensive experience in development finance, public policy and pension reform will support the Fund’s mission to deliver improved retirement outcomes for South Africans.
Two-pot system update: Reduced administration fee for Emergency Savings Pot withdrawals
The Sanlam Umbrella Fund has reduced its Emergency Savings Pot withdrawal administration fee from R330 to R300, plus VAT. The change enhances member value while maintaining efficient processing, ensuring more affordable access to savings when members need financial support most.
Notice of Endorsement to the Sanlam Umbrella Fund and Sanlam Unity Umbrella Fund Approved and Unapproved Group Risk Insurance Policies
The Sanlam Umbrella Fund and Sanlam Unity Umbrella Fund will implement updated Approved and Unapproved Risk Policies effective 1 August 2026, replacing earlier versions. Employers are encouraged to review the new policies and disclosure documents to understand key changes and ensure compliance with member communication required by Policyholder Protection Rules (Long-Term Insurance Act), 2017.
Industry updates
Two-pot exposes an advice gap the industry can no longer ignore
South Africa’s two-pot retirement system is revealing deep financial stress among members and a critical advice gap. Rising withdrawals highlight the need for timely, personalised financial guidance, as education alone proves insufficient to support better long-term decisions and protect retirement outcomes.
Section 37D of the Pension Funds Act: A Practical Guide to Employer Debt, Deductions and Withholding
Section 37D of the Pension Funds Act is explained in practical terms, outlining when retirement benefits may be withheld or deducted for employer debt linked to dishonest conduct. It clarifies qualifying conduct, legal requirements, and the respective roles and responsibilities of employers, funds, trustees, and members.
Key Retirement Fund Values and Changes Effective 1 March 2026
Following the 2026 Budget Speech, several updated tax thresholds and limits apply to the retirement fund industry from 1 March 2026. Consultants should note the increased contribution deduction cap, higher retirement interest de minimis threshold, and revised living annuity commutation limits.
Accurate Member Data, Passport Validity and Third Party Payments: Why Employer Information Matters for SARS Compliance and Claim Processing
Accurate, up‑to‑date member information is essential for smooth SARS compliance and timely claim payments. Maintaining valid passports, permits and personal details prevents directive rejections, bank verification issues—helping employers protect members while reducing delays, risks and last‑minute escalations.
