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
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.
Consultancy Fees and the Sanlam Umbrella Fund Annual Revision
Contracted Benefit Consultants who wish to review their consulting fee for 2026, and implement such a change as part of the annual revision process, must ensure that all signed documentation to this effect reaches the Fund no later than 30 April 2026.
Sanlam and Ninety-One Partnership: What Consultants and Employers Need to Know
The Sanlam–Ninety-One partnership enhances Sanlam’s investment capabilities while keeping all client relationships and mandates unchanged. Only portfolio names within the Sanlam Umbrella Fund have been updated, with no impact on fees, construction or risk profiles, ensuring continuity for employers, consultants and members.
Termination of the Sanlam Progressive Smooth Bonus Portfolio and Transfer to the Sanlam Stable Bonus Portfolio
Sanlam Corporate Investments has decided to terminate the Sanlam Progressive Smooth Bonus Portfolio. Following this the Sanlam Umbrella Fund will terminate and remove this portfolio from its investment choice and transfer all assets to the larger, more sustainable, Sanlam Stable Bonus Portfolio in April 2026. Members retain guarantees, face no penalties, and will receive a once off compensatory bonus.
Industry updates
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.
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.
