Research has shown that when members are informed about the different options available to them at “moments-of-truth” they make better choices. In an effort to increase member engagement, the Sanlam Umbrella Fund will reward members for engaging with our Retirement Benefit Counsellors.
Member engagement by our Retirement Benefit Counsellors complements and supports the role of the Contracted Benefit Consultant (CBC) and Contracted Financial Advisor (CFA) with the aim to further improve members’ retirement outcomes. Counsellors provide factual information only and do not offer advice to members. Where advice is required by a member, the Counsellor will inform the CFA on record about the member’s need.
The appointment of a FAIS-accredited CFA for each participating employer is intended to ensure that members have access to much needed face-to-face financial advisory services.
To promote informed members, we are launching a pre-retirement rewards initiative. This reward will be rolled out for our pro-active engagement with members who are 78 months away from retirement. Our multi-channel strategy enables us to initiate engagement with members via telephone, email, SMS and interactive video – engagement via any of these channels will qualify for a voucher. Members who are eligible to receive this voucher will be informed about it via the relevant engagement channel.
Members will be rewarded with a Shoprite/Checkers voucher to the value of R50, in the week after their engagement with our Retirement Benefit Counsellors. The voucher will be sent via SMS and members will be limited to 1 voucher for the campaign. The campaign will kick-off on 1 June and will run until 30 November, after which we will assess its success.