SPONSORED | Malusi Ndlovu, director of large enterprise at OldMutualSA Corporate, says moving from a standalone to an umbrella retirement fund such as the Old Mutual SuperFund can save money for members over a lifetime of investing.
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With the costs of risk benefits designed to protect members and their families against sickness or death increasing due to the impact of Covid-19, there is even less money going to retirement every month. In addition to the lower costs for members, the umbrella fund removes the administrative burden on companies needing to appoint a board of trustee-employees to meet the onerous governance, risk and compliance requirements.
“The continuous changes to the retirement fund legislation places a further burden on these workers who naturally struggle to manage this responsibility and their day jobs,” he says.
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