Fund Updates
Increased advice fees to advisers for in-fund options
The new fees will allow room for the adviser to provide appropriate advice to members and still receive a fair remuneration for services rendered.
Updated version of The Fund in Detail
We release the November 2017 version of The Fund in Detail for the attention of consultants and participating employers.
Decrease in Contingency Reserve Account levies
We hereby update our clients with important information regarding the contingency reserve account levies for the Sanlam Umbrella Pension and Provident Funds.
Adjudicator: Compensation orders for unlawful withholding of the benefit.
Two recent adjudicator cases highlights the need for consultants to ensure their clients do not default in this regard.
Consulting fees and annual revision process
Consultant fees are not automatically reviewed as part of the annual revision process.
Investment update – closure of the Sanlam Allan Gray Domestic Balanced Portfolio
The Sanlam Allan Gray Domestic Balanced Portfolio was closed to new investors as far back as 2009, and consequently very few Sanlam Umbrella Fund clients are invested in this portfolio.