Fund Updates

Thank you to all who attended the Sanlam Umbrella Fund Symposium 2024. In case you may have missed it, the recording of the Symposium and the Annual Trustee report are now available for viewing.

Spouse’s life insurance (Spouse’s cover) is one of the benefits that a participating employer may offer to its employees as part of their fund benefits. To administer the Spouse’s cover scheme, it is critical to have the most updated information about employees’ spouses.

If a participating employer has selected this benefit, the conversion option allows a member who retires or withdraws from the Fund to take out a similar individual policy (life insurance, lump sum disability or income disability) at their own cost, with the insurer with whom they were underwritten whilst a member of the Fund.

The Pension Funds Act permits retirement funds to offer housing loans or guarantees to members under specific conditions. Following the implementation of the Two-Pot System, significant changes now apply to housing loans and guarantees.

From 1 January 2025, the benefit maximums for the supplementary benefits, Universal Education Protector and Medical Aid Premium Waiver, will change.

The changes detailed previously to the Sanlam Blue Lifestage Strategy and SIM Balanced Fund have been concluded.