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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.

Fund updates

Sanlam Umbrella Fund Investment Feedback Session

At the investment feedback session held on 22 May 2025, the Sanlam Umbrella Fund provided an in-depth investment update, reviewing portfolio performance, market outlook, and economic trends. Experts discussed strategic adjustments made in response to evolving financial conditions to safeguard and optimize fund returns.

Industry updates

Recent Adjudicator Ruling Reinforces Compliance with Section 37D When Withholding Pension Benefits

A recent determination by the Pension Funds Adjudicator underscores the necessity for retirement funds to act within the constraints of Section 37D of the Pension Funds Act when withholding benefits at an employer’s request. In the case of A Buys v Sentraal Suid Aftree Fonds, the Adjudicator ruled that a fund improperly withheld a member’s withdrawal benefit based solely on an employer’s allegations and a criminal investigation, without a civil judgment or admission of liability. This ruling reaffirms that funds must exercise discretion carefully, act impartially, and ensure that withholding benefits is legally justified to avoid undue prejudice to members.