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Sanlam Umbrella Fund
This Fund has been designed to give your employees the ultimate gift: financial confidence.
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ABOUT SANLAM UMBRELLA FUND
Empowering your employees with financial confidenceWith over 100 years’ experience in helping build financial confidence, and more than 90 years’ experience in retirement fund administration, we're perfectly positioned to unify, simplify, and amplify your employees' experience with superior products crafted to build and protect their wealth. Hosted on a web-based superior administration platform, the Sanlam Umbrella Fund enables you the employer to access vast amounts of information, and to complete the full spectrum of Fund transactions online.
What we offer
Our products offer a seamless solution for managing workforce retirementChoose from basic to comprehensive custom-designed solutions, allowing you to offer your employees complete investment flexibility.
- A superior productThe Fund gives employers access to a superior web-based platform and is designed to complete the full spectrum of Fund transactions.
- Streamlined digital solutionsOur electronic contribution process is an integrated digital solution for safely and easily updating monthly member data and payment of contributions.
- Stronger engagementYour employees will be empowered with valuable insights and tools via our digital platforms, and can generate statements, switch investment portfolios, and update beneficiary information with ease.
What about additional services?
We recognise our responsibility goes further than simply assisting members with achieving good retirement outcomes. Our vision is to educate members and improve their lives, now and into retirement, and our value-added services help us achieve that.
Free Virtual Dr consultations
“Wealth Bonus Lifestyle for Sanlam Corporate –
Members get to enjoy exclusive benefits and discounts”
Members get to enjoy exclusive benefits and discounts”
Free will-drafting services
Free financial wellness programme
Healthcare offering
Access to Sanlam Reality
PRODUCT SPECIFICS
InvestmentsThe Sanlam Umbrella Fund is a holistic solution that offers a variety of investment opportunities, each tailored to meet your employees’ needs. We make it simple and easy to select investments that are suitable for both pre- and post-retirement.
Choose your investment option
Standard option
In the Standard option, the employer has complete control over the investment strategy, which is chosen from a list of Trustee-approved default strategies. Members do not have an investment choice.
Comprehensive option
The Comprehensive option offers more flexibility, this option provides increasing levels of investment freedom to both employers and employees. Employers can choose between the Trustee-approved default investment strategies and customising their default investment strategy. On a member-level, employers can choose from a range of Trustee-approved portfolios, members have unlimited free investment portfolio switches and get access to the Glacier Retirement Fund solution.
For the qualifying members who get access to the Glacier Retirement Fund, they’ll be exposed to over 1,000 unit trusts and various brokerages, including Sanlam Private Wealth.
Competitive insurance benefits
Our risk solutions are insured with two of the most competitive insurers in South Africa: Sanlam Group Risk and Absa Life. However, we also offer flexibility: qualifying employers can place their insured benefits with an insurer of their choice.
Group life and accidental death benefit
Lump sum and disability income benefit
Family funeral benefit
Spouse’s life benefit
Education benefit
Salary cash back benefit
Medical aid premium waiver benefit
Individual membership options
The Sanlam Umbrella Fund makes it easy for your employees to grow their retirement savings during their working years. They can also continue through individual membership even after they leave the business. The options include:
Members enjoy unlimited investment portfolio switches free of charge
Members have access to the Trustee-approved investment menu
- Paid-up membershipWhen a member leaves their employment before they retire, they can leave their withdrawal benefit in the Fund.
- Phased retirementWhen a member retires, they can postpone the payment of their retirement benefit until a later date.
- In-Fund Living AnnuityOn or after retirement, a member can draw a monthly pension from the cost-effective In-Fund Living Annuity option.
- Out-of-Fund Guaranteed AnnuityOn or after retirement, a member can purchase a guaranteed annuity for life from Sanlam.