The FSB Information Circular PF 24 of 2017 specifies that with effect 1 March 2017, all retirement funds will be required to apply for a tax directive in respect of members transferring to the fund by means of a Section 14. Outstanding member tax numbers may delay the allocation of members’ monies to their accounts. It is therefore of the utmost importance that participating employers who are in the process of transferring to the Sanlam Umbrella Fund take notice of this requirement.

Click here to read the FSB Circular