THIS IS AN OPTION FOR THE OPENING TITLE SLIDE Richard van Dijk Graeme Pelser 16 March 2016.

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Presentation transcript:

THIS IS AN OPTION FOR THE OPENING TITLE SLIDE Richard van Dijk Graeme Pelser 16 March 2016

Discussion Points Why audit a fund? What does it entail? Reports

Why audit a fund?

Consumer watch Regulators Competitors Retail Institutional RetirementSavingsInsurance - LifeShort termMedical AidServices Intermediary CLIENT Service Providers Challenging Environment TCF, FAIS, CPA, POPI, Retirement Reform, RDR, etc.

Compliance Concerns / Consequences – if not adhered / attended to: Eligibility conditions Approved / unapproved benefits Tax implications Disability aggregation 13A Trustees to audit funds for compliance Active fund management Nomination of beneficiary forms Joint forums Member communication Investment choice Pensions reform Section 14 …Etc., etc.

Consider the following YesNo / Unsure 1. Do you have a structured Retirement Fund in place? 2. Are your Risk (death, disability, dread disease, funeral, etc.) Benefit approved / unapproved? 3. Do you and members have regular discussions with your consultants? 4. Are you satisfied with administration processes and delivery? 5. Is the programme structured in a tax effective and cost optimal way? 6. Do members understand and appreciate the benefits? 7. Is the fund fully compliant and aligned with pension reform and legal requirements? 8. Do you have regular fund investment updates? 9. Is there a formal staff communication policy in place on benefits structures? 10. Can we arrange for a free, no obligation audit of your existing arrangement?

1. Do you have a structured Retirement Fund in place?

2. Are your Risk (death, disability, dread disease, funeral, etc.) Benefit approved / unapproved?

3. Do you and members have regular discussions with your consultants?

4. Are you satisfied with administration processes and delivery?

5. Is the programme structured in a tax effective and cost optimal way?

6. Do members understand and appreciate the benefits?

7. Is the fund fully compliant and aligned with pension reform and legal requirements?

8. Do you have regular fund investment updates?

9. Is there a formal staff communication policy in place on benefits structures?

10. Can we arrange for a free, no obligation audit of your existing arrangement?

What does it entail?

Audit - process 1 st Meeting Introduction Obtain data Either a letter of authority to investigate or 3 years annual revision data Preparation of the report Research Analysis Report back Decide on the way forward

Client needs assessment… Solution Designs Proposes Implements Monitors Evaluates Manages Updates Consulting Understanding Client’s needs

Audit report…

GRAPH & TEXT SLIDE

Value-added Services FAIS Accredited point of sale assistance Post-sales Account Manager Online Fund access Joint Forum – a structured approach Trustee interaction i.e. Annual General Meetings Replacement Ratio EB Open DaysEB Summits

Uncover Insurance needs… Business Assurance, Medical Aid, Retirement, Life Insurance, Disability Insurance, Trauma Insurance, Contingency Liability Insurance, Investments – Short, Medium, Long, Short Term Insurance etc

Questions / Discussion