The annual rate review for the Sanlam Umbrella Pension Fund, the Sanlam Umbrella Provident Fund, and the Sanlam Unity Umbrella Fund has been completed. All supporting Contracted Benefit Consultants and participating employers have received client-specific communication detailing the fees to be implemented from 1 March 2025 and 1 April 2025, respectively.
The 2025 rates, as outlined in the statements and communication issued earlier this year, will be adjusted to accommodate the VAT increase to 15.5%, as announced by the Finance Minister during the National Budget Speech, effective 1 May 2025. No new statements will be issued.
Fees for all participating employers, regardless of whether their fees were reviewed in 2025, will be adjusted to account for the VAT increase.