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
Removal of Member Selected Planned Retirement Age
The Planned Retirement Age option has been removed to simplify retirement planning and reduce member confusion. The change aligns retirement processes to the employer’s Normal Retirement Age, reducing confusion and supporting more consistent member outcomes.
Auto Indexing: Optimisation of Processing Times
Providing complete and accurate information upfront helps Sanlam Corporate process queries and claims faster. Ensure to include these key details required to avoid delays, improve turnaround times, and ensure efficient service for all future correspondence and claims.
The Importance of Completing Beneficiary Nominations for Funeral Benefits
Completing a beneficiary nomination for a funeral benefit is essential to ensure a quick and stress-free payout. This article explains how a valid, up-to-date nomination helps avoid delays, disputes, and administrative challenges during an already difficult time for loved ones.
Strong governance delivers real rewards – Sanlam Umbrella Fund announces contribution holiday on Contingency Reserve Account Levy for 2026
The Sanlam Umbrella Fund has approved a once‑off 2026 Contingency Reserve Account contribution holiday, thanks to strong reserves and prudent financial management. This rare industry move reflects robust governance and delivers direct value to members without affecting fees, benefits or long‑term fund stability.
Industry updates
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.
Key takeaways from the 2026 National Budget
The 2026 National Budget introduces inflationary relief, higher retirement and savings limits, and key reforms across financial regulation, infrastructure investment and consumer protection. Sanlam Corporate unpacks the major changes affecting retirement funds, individuals and the broader financial sector, offering insights on their impact.
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.
