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Implementation of Sanlam Lifestage in the Sanlam Umbrella Fund successful! On 22 March 2013 we announced that the Sanlam Umbrella Fund will be adopting Sanlam Lifestage as the Fund’s default investment strategy. After comprehensive communication with all stakeholders, the implementation went ahead as planned on 1 July 2013. We are pleased to report that the implementation project was successfully concluded according to the plan and time lines as previously communicated.

  • All members previously in the Lifestage Programme have been switched to Sanlam Lifestage and reporting i.e. Retirement Fund Web now reflects the new Sanlam Lifestage portfolios.
  • As part of the implementation, the Sanlam Lifestage Capital Protection Preservation Portfolio has been used as the default preservation portfolio for all members in Sanlam Lifestage within 6 years of retirement.
  • These members (within six years of retirement) will have the opportunity to select one of the two other preservation options from 1 September 2013. Further communication in this regard will follow in due course to the affected members.
  • The investment return earned on the accumulation phase assets during the July transition period was 3.66% compared to a benchmark return of 2.40%. This is very pleasing in the circumstances. The transition period for the Sanlam Lifestage Accumulation Portfolio was thus completed within the envisaged timeframes, and its performance will be reported to clients beginning from the August 2013 monthly fact sheets.

A reminder as to why this decision was made

  • The new strategy represents Sanlam’s best houseview for a lifestage model.
  • The trustees believe the new strategy is an enhancement that will benefit the Sanlam Umbrella Fund members.
  • The new strategy is more closely aligned to National Treasury’s retirement fund reform thinking that will require Boards of Trustees to consider matters such as default annuitisation.

For further enquiries or assistance, Contracted Benefit Consultants and Contracted Financial Advisers may contact us at or contact their regional Account Manager.