What services do we offer?
Old Mutual offers retirement planning and counselling services to its clients to enable them to plan for their retirement, financially, socially and psychologically. The also provide trustees training that is conducted every year in all of the major centres and on request. Actuarial services and valuations are also provided on a regular basis to assess the solvency of the Defined Benefit Funds.
A benefit structure requires a very delicate balance between the needs of the employees/employers and the cost of providing the benefits. This requires regular reviews to ensure that both members and the fund derive maximum value from the Employee Benefits package. A team of experienced Consultants is always available to fulfil this function.
- Educating the Pension Fund Trustees and officials of the Fund.
- Member communication, distribution of Pension Fund accounts, employee booklets and employee benefit certificates.
- Counselling members on withdrawal, retirement, retrenchment and also counselling beneficiaries on a member's death.
- Guiding Trustees to arrive at sound decisions on pension fund matters.
Each pension fund is allocated to a Consultant who is responsible for the following:
- Creating and maintaining fund and member records.
- Calculating and paying benefits correctly.
- Obtaining tax directives from the tax department when required.
- Carrying out accounting and audit functions and producing annual fund accounts for each Pension Fund.
The following administration services are on offer:
- Drafting of Rules of the Pension Fund and lodging the Rules with the Registrar of Pension and Provident Funds for approval.
- Negotiating and advising on all changes through amendments to the Rules.
- Furnishing of annual returns to the Registrar of Pension and Provident Funds.
- Advise on changes in pension legislation and their implications.
This involves:
