Fund Updates

Sanlam Umbrella Fund has replaced its Standard Critical Illness benefit with a new Comprehensive benefit option from April 2025. Further enhancements will be implemented from September 2025.

Sanlam Umbrella Fund members can now transfer savings from their Vested and Emergency Savings Pots into their Retirement Pot. This boosts long-term savings, but the decision is irreversible once made. Financial advice is recommended.

South Africa’s two-pot retirement system, effective 1 September 2024, allows limited early access to savings. Members who are on the old system (provident fund members aged 55+ on 1 March 2021) have until 31 August 2025 to opt in to the two-pot system.

Sanlam Umbrella Fund launched a proactive WhatsApp engagement in July 2025 to help members better understand their retirement benefits. This real-time platform enhances access to financial advice, especially for members considering or completing emergency or retirement savings withdrawals.

The 2025 Sanlam Benchmark Survey reveals critical gaps in financial literacy impacting retirement outcomes in South Africa, urging a holistic approach to employee wellbeing and timely interventions to guide informed financial decision-making.

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.