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
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.
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.
Important Update: New Email Address for Amendment Requests
Please send all amendment requests to Clientamendments@sanlam.co.za and use the subject line format: Participating Employer Name – Participating Employer Code. This ensures accurate linking and supports automation for faster processing. Thank you for helping us maintain efficiency.
2026 Administration Fee & Premium Revision Date Moves to August
The annual revision date for administration fees and insurance premiums will change to 1 August 2026 for the Sanlam Umbrella Funds and Sanlam Unity Umbrella Fund. This change avoids holiday season disruptions, ensuring smoother client engagement. Current administration fees and premiums remain unchanged until the new revision date.
Industry updates
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.
Industry Stalwart David Gluckman Calls for Bold Reforms in Retirement
David Gluckman, former Chair of the Sanlam Umbrella Fund, calls for bold reforms to simplify retirement systems, reduce costs, and protect members. His five-point plan urges industry collaboration to tackle bureaucracy, boost competition, manage small balances, and use reserves for member benefit.
The retirement dragon – why now is a good time to slay it
Recent market gains outpace annuity cost increases, creating an ideal window to secure guaranteed income for life. A guaranteed annuity or a blend with a living annuity offers stability, sustainability and peace of mind.
Partnering for a Safer Financial Future: Understanding Customer Due Diligence
As a valued client of Sanlam, we want to explain Customer Due Diligence (CDD), a process mandated by FICA, which involves identifying and verifying client identities to prevent financial crime and foster a secure financial environment.
