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Changes in the retirement fund industry
Despite the fact that contributing towards a retirement fund is compulsory for many employees in the private sector, there was a concerning decline in total contribution towards retirement funds recorded in 2018.
According to the 2018 Sanlam Benchmark Survey these reverted to pre-2013 levels. Of equal concern is the expert opinion that in South Africa, 85% of retirees who leave employment will not be able to maintain their pre-retirement lifestyle.
“Financial planners need to stay abreast of industry changes while providing the best possible solutions to their clients ensuring their comfortable retirement,” says Kobus Hanekom, editor of The Manual on Retirement Funds and Other Employee Benefits published by LexisNexis South Africa. “With ongoing changes to the regulatory environment this is not always easy.”
Celebrating 25 years as the leading reference on employee benefits, The Manual on Retirement Funds and Other Employee Benefits has become an institution in its own right. With its panel of distinguished authors, the Manual is widely recognised as an indispensable guide for the retirement fund industry. This year not only marks a milestone for the publication, but also the move to providing affordable online access. In recognition of this achievement LexisNexis is offering a 25% discount on the Manual.
Sanlam is to be applauded on sponsoring free online access to the Manual to not only their staff, brokers and clients but also to people who register for the trustee and principal officer qualifications offered by Batseta.
Anne-Marie D’Alton, CEO of Batseta, believes that the manual is essential reading, providing comprehensive and current content. “There is no doubt that many principal officers and trustees who will be enrolling for the occupational qualifications now and in the future will continue to benefit from the resource for years to come. Congratulations to the author and contributors for reaching this significant milestone,” she says.
Updated annually in online format, the Manual on Retirement Funds and other Employee Benefits is a comprehensive reference on the management and administration of retirement funds and other employee benefits for the retirement fund industry – including financial planners and consultants, legal advisors and students. Marius Botha, well-known lecturer and author, says that the Manual has been his go-to book on the subject of employee benefits and retirement planning for many years. “A financial planner cannot do without a copy in the office,” says Botha.
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