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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 350 000 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.
With our unitised environment, our databases are completely transparent and of high integrity. With only a two-day price lag, we offer members and trustees total piece of mind with full access to all transactions and information via our interactive website.
Investment information is updated daily with information received from the asset managers via automated links. Unit prices are calculated automatically from the source information and fed directly into the member database.
Management attention is focused on the core administration function. As IT development is outsourced to a vendor, it allows the administration executives time to focus on client service and business process management and control. Skilled staff members with years of experience in the employee benefits industry underpin our success.
All transactions can be traced so that enquiries can be handled quickly, accurately and efficiently. Our work flow capability provides improved management and control, case tracking, proactive case management and service-level reporting.
A dedicated client services team ensures that employers are fully trained on our administration systems as well as the Retirement Fund Web facility, while our client-friendly call centre ensures improved convenience to members.
We are able to physically interact with our clients and provide prompt service. Our two campuses, in Bellville and Centurion, operate independently and provide our clients with enhanced business continuity in the event of a disaster affecting the operations of one campus.