An award-winning retirement and savings solution from Sanlam

A lifetime of working should result in a dignified retirement, but this is often not the case in South Africa. So many older people find themselves amongst the most vulnerable members of society, unable to provide for their own care.

Recognising this situation, WeBenefit has partnered with Sanlam Employee Benefits to make the Sanlam Umbrella Fund available to qualifying WeBenefit community members.

This award-winning retirement savings and insurance solution empowers employers and employees to make better retirement funding decisions today, to ensure better financial and personal outcomes tomorrow.

This all-in-one retirement solution allows you to save towards your retirement while also enabling access to group life, income disability and funeral insurance – in addition to education protection for your children.

How it works

  • The employer and employee make a minimum monthly contribution to the Sanlam Umbrella Fund.
  • The cost for the group insurance is deducted and paid to the insurance company that will provide the insured benefits are paid out in case of a member’s death or disability.
  • The balance of the contributions is invested in one or more investment portfolios; and this amount – plus the investment returns – are added to the member’s personal account in the Fund, known as the ‘member share’.
  • Members may increase their contributions to the Fund or make additional voluntary contributions at any time.
  • If members change jobs (whether through resignation, dismissal or retrenchment), they have the option to leave their savings in the Fund, or transfer it to another retirement fund.
  • Members have access to various online tools and a free smart phone app. These tools ensure members are always in control of their retirement savings journey and can access their information instantly. Members are also able to exercise choices or update information via the online tools.