Sanlam Retirement Fund Administration
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Retirement Fund Administration

Retirement fund members have increasingly become responsible for planning their own retirement. As a result, they need appropriate solutions and regular encouragement to assess their retirement benefits and other investments.

At Sanlam, retirement fund administration is far more than collecting contributions and paying benefits.
For us, it is about treating our clients’ life earnings with the respect it deserves, because we know what has gone into earning it.

Why this Fund?

Expertise that works for you.

Flexible Options

Every aspect taken care of.

Unclaimed Benefits Solution

Dealing with unclaimed benefits.

Communication and Tools

Promoting financial awareness.

Why consider the Sanlam Retirement Administration Fund?

We strive to administer retirement funds in such a way that each fund member understands the reason for retirement savings, financial goal-setting and investment strategies to ensure financial independence at retirement.

Sanlam has been providing holistic retirement fund administration services for over 80 years. We administer more than 130 stand-alone retirement funds, with over 300 000 active members and a further 360 000 dormant members. Our list of top-tier clients confirms market confidence in our capabilities.

We are able to adapt our administration solution into flexible options to suit a client’s specific needs. This is evident from the variety of industry funds we administer – from the mining sector, unions, local government and central government to the manufacturing industry and financial services industry.

Our solution brings all the areas of the value chain together, ensuring data integrity that gives the trustees of a retirement fund access to relevant and instant information on their fund. This allows trustees to focus on the critical issues of governance and on their fiduciary duties. Our services empower the trustees to deliver effective communication to all stakeholders.

Having a South African-based administration platform means development costs are controlled. This is specifically important in the dynamic SA pension environment where new legislation can significantly contribute to the cost of administration. Sanlam’s buying power impacts the IT developer’s decision-making process and as a result improves our administration agility.

Our business model of daily balancing ensures the continuous matching of a fund’s assets and liabilities. All available cash is invested and the appropriate funds are used to pay benefits and fund expenses.

Daily pricing reduces delays between fund investment or disinvestment decisions and actual transactions. It further reduces the influence of volatile market movements on the value of members’ savings. As a result, member payments are based on daily market values.


Choice of Flexible Administration Options

Our offering comprises investment product, member record, as well as fund accounting administration.

Investment Product Administration (IPA) will act as the link between the fund’s administrator and asset managers, monitoring and managing cash flows between the service providers. The IPA function forms part of our basic administration model, but it can also be provided as a stand-alone service to a retirement fund that requires a unitised and daily or monthly priced administration environment.

Our offering includes the following options:

  • Providing monthly unitisation (if daily unitisation is not suitable)
  • Managing Regulation 28 monitoring and reporting processes
  • Rebalancing underlying assets of a fund for scheme-level products
  • Rebalancing of underlying investment portfolios
  • Negotiating service levels with investment managers with regard to the exchange of data and instructions

Our offering includes the administration of:

  • Member investment portfolio choices
  • Multiple life stage programmes
  • Variable contribution rates and categories
  • Non-contributing members
  • Choice of approved and unapproved risk benefits for members
  • Pension-backed loans. (direct, bank and/or employer loans)
  • Beneficiary nomination process
  • Death benefit distribution services
  • Assistance with pension fund adjudicator complaints and divorce order assessments
  • Payments of divorce order and maintenance orders
  • Unclaimed member records
  • Pension payroll
  • Monthly living annuity payments in the fund
  • Expected monthly contribution schedule to employers
  • Arrangements with insurers for monthly disability income payments and collection of contributions
  • Providing tailor-made trustee reporting and administration reporting
  • Providing service-level monitoring
  • Providing secretarial services for board and sub-committee meetings
  • Managing Section 28 liquidation processes
  • Paying third-party service providers appointed by a fund
  • Calculating and paying fees and levies to regulatory authorities
  • Submitting approved financial statements to the Financial Services Board
  • Facilitating queries from the Financial Services Board regarding financial statements

Unclaimed Benefits Fund

Sanlam’s Unclaimed Benefits Pension Preservation and Provident Preservation Funds offer a specialised solution for unclaimed benefits. This solution is available to any pension or provident fund’s board of trustees, whose objective is to preserve their fund’s unclaimed benefits in a suitable solution. The solution includes unclaimed benefits accrued in a fund in respect of members, former members, nominees or dependants.

Drafting of Fund Rules

We can draft a retirement fund’s rules and rule amendments, irrespective of whether or not the fund is administered by Sanlam. Our dedicated team of specialists keep abreast of all legislative changes affecting the retirement fund industry. The team assesses and interprets the impact of legislative changes and updates the fund rules accordingly. The team is also supported by a large network of Sanlam legal and drafting specialists.

Regulation 28 Monitoring

In response to the requirements of Regulation 28 of the Pension Funds Act, we are able to provide trustees of a fund with a comprehensive monitoring and reporting service. This service is available to all funds that lack appropriate measures to ensure compliance with new legislative requirements.

Available services

  • Advising boards of trustees on rules and rule amendments
  • Drafting of rules and rule amendments
  • Registration of rules and rule amendments with the FSB

Member Communication and Tools

We believe member communication and education are key to creating and raising awareness among employees about the need to start saving, or to increase their level of savings to the point where they can provide adequately for their own retirement. Our flexible communication product can assist a fund in achieving this with a tailor-made strategy.

Our member and pensioner communication service includes a variety of communication solutions such as:

  • An electronic member booklet
  • Member newsletters
  • A trustee report
  • Email or SMS campaigns
  • Posters and job aids
  • Member inductions or any other such road shows or presentations
  • Pensioner road shows
  • Interactive fund websites

Our research has indicated that the first day of employment can be crucial in terms of retirement provision as employees are in most cases also required to pick a contribution level which can have a material impact on their standard of living in retirement. To assist with this decision-making process, Sanlam has put together a video and calculator that helps provide the necessary context and insight.

Day One Member Video

Find out how saving for retirement
can be easy.

Day One Member Calculator

Find out how much you should put away for retirement each month.




Invest Online Back

Call me back

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Call me back

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