The annual rate review for all three underlying funds being the Sanlam Umbrella Pension Fund, the Sanlam Umbrella Provident Fund and the Sanlam Unity Umbrella Fund is now completed. By now, all supporting consultants and participating employers would have received their client-specific communication that details the fees to be implemented from 1 April 2018. The 2018 rates, as per the statements distributed to consultants and employers, will be adjusted to provide for the 15% VAT as announced by the Finance Minister, during the National Budget Speech. I.e., we will not be issuing new statements. Fees for all participating employers (regardless of whether their fees were reviewed in 2018), will be adjusted to provide for the VAT increase.
