When a member of a retirement fund dies before reaching retirement age, the lump sum benefit which becomes payable (the “death benefit”) must be paid to the member's dependants and/or nominees. Section 37C of the Pension Funds Act, 1956 regulates the payment...
The ANC's 2024 Election Manifesto yet again raised the concept of prescribed assets whereby retirement funds will be obligated to invest in government approved investments. Similar comments were made in its 2019 election manifesto and has been a recurring...
In July 2022, the National Treasury unveiled pivotal amendments to Regulation 28, revolutionising the investment framework for South African retirement funds. Despite the regulatory endorsement for funds to invest in private markets and other asset classes, investors...
Early in February 2024, Sanlam announced a proposed transaction to acquire up to 100% of the issued ordinary shares of Assupol Holdings Limited (Assupol), through a scheme of arrangement with a fallback general offer to Assupol shareholders for a purchase...
Lize de la Harpe, Legal Advisor, Glacier by SanlamNo person is by nature able to act on behalf of another - he or she must have the necessary authority to do so. This authorisation is commonly given in the form of a power of attorney, which is a formal document by...
Ashely Daswa, Senior Investment Specialist, Sanlam Corporate InvestmentsThe recently published 2023 Sanlam Benchmark Survey has revealed a significant shift in the attitudes of retirement funds towards utilising their assets to address climate change. The survey...
The challenge of using pension funds to fuel green financeAshley Daswa, Senior Investment Specialist,Sanlam Corporate: Investments The Intergovernmental Panel on Climate Change's latest Synthesis Report is a dire warning that without drastic action, global temperature...