On 23 March 2020, the honourable President of South Africa Cyril Ramaphosa, communicated the decision of the National Coronavirus Command Council to enforce a nation-wide lockdown for 21 days starting at 23h59 on 26 March 2020 in terms of the Disaster Management Act. This unprecedented action is being implemented to mitigate the spread of coronavirus within our population and to manage the impact of the pandemic on our healthcare system.
Sanlam is a responsible corporate citizen that has a significant role to play during this crisis to bring security and hope to our clients, our employees and our country. We thank you for your continued support and understanding through this difficult and unprecedented period. The immediate future will test our shared resolve to endure and we commit ourselves to working with you to fight the impact of the coronavirus pandemic on our nation.
As a result and due to the current uncertain and unprecedented environment, Sanlam has made a decision to delay the investment management fee adjustments to the external investment portfolios offered to investors within a Sanlam Life Policy. As it is unclear how services will be impacted during the lockdown period in South Africa, we believe that going ahead with the change as envisaged 1 May 2020 could unnecessarily complicate the operational processes by various stakeholders required to implement the change.
We will issue a notice as soon as possible to provide you with an update on the matter.
Click here to read the previous article published on 5 March 2020.