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 Umbrella Funds Strengthen Cybersecurity to Meet Compliance Standards
The Sanlam Umbrella Funds have implemented a comprehensive cybersecurity and resilience strategy to comply with new legislation effective June 2025, ensuring robust protection of member data and operational continuity, overseen by the Board of Trustees and expert-supported governance structures.
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.
Enabling the Age of Confidence: Sanlam Umbrella Fund appoints first female Chairperson
In a landmark move that signals both progress and promise, the Sanlam Umbrella Fund has appointed Jolly Mokorosi as its new Chairperson, effective 1 April 2025. Mokorosi becomes the first woman to lead the Fund, bringing with her a wealth of experience and a strong commitment to transformation, good governance, and member-focused leadership.
Sanlam Umbrella Fund’s rate revision and the impact of the VAT increase
The 2025 annual rate review for Sanlam's three umbrella funds has been finalised. Client-specific communications have been sent, outlining fee changes effective from March and April 2025. All fees will be adjusted to reflect the VAT increase to 15.5% from 1 May 2025, with no new statements issued.
Industry updates
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.
Retirement at 80: Sanlam Panel Tackles South Africa’s Financial Future
At the 2025 Sanlam Corporate Leaders’ Breakfast, experts discussed the Age of Confidence research revealing South Africans can only afford to retire at 80. The panel explored the retirement gap, future of work, and ways to improve financial outcomes.
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.
Umbrella Fund Masterclass with Independent Trustee Jolly Mokorosi
In a recent Umbrella Fund Master Class on Asset TV South Africa, Jolly Mokorosi, Independent Trustee of the Sanlam Umbrella Fund, joins host Mosidi Modise and industry peers to explore emerging trends and themes surrounding two-pot withdrawals—and much more.
