Following the successful implementation of the Sanlam Lifestage as the Sanlam Umbrella Fund’s default investment strategy on 1 July 2013, members can now choose a preservation portfolio that matches their retirement strategy (that is taking into account the annuity vehicle preferred for retirement). The Fund is in the process of rolling-out their communication strategy to all affected members and their Contracted Financial Advisers. Members will require the assistance of their financial advisers to make the appropriate decisions and Contracted Financial Advisers are requested to play an active role in this process. Please look out for the specific, individual members’ notices according to the time lines as outlined here:
- By 20 September 2013: Notice to members who were included in the bulk transfer on 1 July that are six years or less from retirement. Read an example of the notice here
- By 4 October 2013: Notice to members that are six years and six months from retirement. Read an example of the notice here
- By 18 October 2013: First notice to members that are seven years from retirement. Read an example of the notice here
- By 31 October 2013: Notice to new members that joined the Fund and are six years or less from retirement.
- By 31 October 2013: Notice to new members that joined the Fund and are older than the Normal Retirement Age.
From the end of November, the appropriate notices to members in Sanlam Lifestage will be issued on a monthly basis.