In a dynamic financial environment, it is vital for people to understand the importance of accumulating enough money for retirement. At SA Quantum we are here to assist any and all responsible employers, working together with their employees to secure a bright financial future. Retirement fund members are progressively becoming responsible for planning their own retirement. As a result, they need suitable solutions and steady encouragement to evaluate their retirement benefits and other investments.
Retirement fund administration goes beyond reconciling monthly contributions and paying out benefits. For us, it is about making a difference in the lives of our clients, treating their retirement savings with deserved respect while efficiently managing all processes within the administration space. Our administration model provides for flexibility and stability within our database. Our team takes care of every aspect of fund administration from member communication to death benefit distribution.
Our Retirement Fund Administration Services
Member Level Administration
- Member records are updated, and contributions collected. Contributions are invested for retirement on behalf of members
- Member records are kept updated with new static information as supplied by the employer or member
- Benefits are paid to a member in the event of resignation, dismissal, disability, retrenchment, retirement or death
- Variable investment options are administered according to trustees’ requirements
- Automated general ledger journals are posted to Fund Accounting for each member record transaction
- Members have access to accurate fund values
- Our offering includes the administration of:
- Variable contribution rates and categories
- Non-contributing members
- Choice of approved and unapproved risk benefits for members
- Pension-backed loans (direct, bank and/or employer loans)
- Beneficiary nomination process
- Death benefit distribution services
- Assistance with pension fund adjudicator complaints and divorce order assessments
- Payments of divorce order and maintenance orders
- Unclaimed member records
- Tailor-made trustee and administration reporting
- Secretarial services for board and sub-committee meetings
Fund Accounting Administration
- Accounting records are kept updated with the various transactions that take place in a fund
- Annual financial statements are produced timeously and accurately
- Various reports are provided to all stakeholders
- Bank accounts are reconciled weekly
- General ledger accounts are reconciled monthly
- We also provide the following:
- Service-level monitoring
- Regulation 28 monitoring and reporting