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Dispelling umbrella fund fears for employers
Manage episode 424755372 series 3581044
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GUEST – Mica Townsend, specialist in the Group Savings and Investments team at Allan Gray
There has been a drive from single employer standalone funds to multi-employer umbrella funds, with the number of standalone funds dropping significantly from 774 in 2015 to 398 in 2022. The shift has largely been driven by the authorities to encourage consolidation within the industry to reduce costs and improve the service offering, as well as by employers to simplify the regulatory burdens of operating a retirement fund. Below we dispel some of the fears employers may have in moving to an umbrella fund. Kaya 959
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There has been a drive from single employer standalone funds to multi-employer umbrella funds, with the number of standalone funds dropping significantly from 774 in 2015 to 398 in 2022. The shift has largely been driven by the authorities to encourage consolidation within the industry to reduce costs and improve the service offering, as well as by employers to simplify the regulatory burdens of operating a retirement fund. Below we dispel some of the fears employers may have in moving to an umbrella fund. Kaya 959
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