RFS Umbrella Pension & Provident Funds Communique 01 0f 2019 - RFS Administrators (Pty) Ltd

RFS Umbrella Pension & Provident Funds Communique 01 0f 2019

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Our communication with you are normally conducted via your appointed consultants.  We are happy with the service the consultants give in this respect and see no reason whatsoever of disrupting the present arrangements.  We do however feel that our relationship should be strengthened and decided to issue a communique at least once a year keeping you informed of changes and developments in the Pension Fund Industry and any other item stemming from our management of the two funds that might have some effect on you.

We will touch only on some aspects in this document.


  1. Your Sponsor of the funds.
  2. Your Board of trustees including their duties and powers.
  3. Introduction of the trustees.
  4. The role of your management committee (MANCO).
  5. Communication with us.


We plan to follow it up with more information that will be communicated during the next few weeks. You are welcome to raise any questions, or pass any comments, that you may have.



Your sponsor is RFS Administrators (Pty) Ltd.


The RFS Umbrella Pension and Provident Funds are registered pension funds in terms of the Pension Funds Act. Pension funds are managed by a board of trustees in terms of the Pension Funds Act.

In terms of our rules the sponsor may appoint four trustees two of whom are employed by the Sponsor and two who must be totally independent from the Sponsor, service providers or Participants.  The Trustees are appointed for five years after which they may be re- appointed.  At the beginning of each financial period of the Funds the Boards elect, from their own ranks, the Chairman of the respective Fund.

It may be useful to you to know who the Trustees are, and we give below a very brief CV of each.


The object and duties of the Board are described in the Pension Funds Act and the rules of the funds. Rule 13.7 deals with the object and duties of the Board and rule 13.8 with the powers of the Board. An extract of the rules is attached as Annexure A.



Present Independent Chairman of both Boards.

Age 76

Academic qualifications: B.Com.Hons (Investment Management) and Post Graduate Certificate in Advanced Trust Laws.

Vocational qualifications: Exams of the Financial Planning Institute in both Pensions and Life consultancy as well as the FAIS examinations.   Occupational history: Johan retired from Sanlam Pensions on the level of a Provincial Manager.  He then started a consultancy firm, advising retirees on how to invest their funds. He sold the firm after 8 years but is still a director of the company. Presently he serves on 10 Boards of Trustees mostly as chairman. He has served on these Boards for the last 18 years. He is also a director of a very large Nominee Company.



Sponsor Trustee and Finance/Administration Manager

Age: 42

Academic Qualifications: B.Compt

Vocational Qualifications: Short course: Elements of Retirement Funds Short course: Introductory Programme of Retirement Fund Management Occupational History: Susan worked in the corporate private sector for 10 years as Accountant and Senior Accountant of various companies. She became involved in the pension fund industry in 2010 when she joined a pension fund administration company as Senior Accountant. The administration company closed in 2012 after which Susan was employed by RFS Administrators as Fund Accountant and later promoted to Finance/Administration Manager. Susan served as a trustee since 2010. She currently serves on 5 boards of trustees having more than 8 years of pension fund administration experience.


Sponsor trustee

Age: 62

Academic qualifications: HOD (University of Pretoria)

Occupational history:  Chris worked in the corporate sector for almost 40 years mostly as CEO of various companies. He became involved in the pension fund industry since 1993 where he was appointed as Financial Advisor for Sanlam up to 1995. In 1995 he established the company called Chris du Plooy and associates which later became RFS Administrators. Chris served as principal officer for the National Fund for Municipal Workers and National Pension Fund for Municipal Workers since inception (1996) until 2007. Chris has a vast experience in administration of pension funds.


Principal Officer and Alternate Trustee

Age: 58

Academic qualifications: Hons. B. Compt and Articles completed with SAICA

Vocational qualifications: FAIS examinations RE1 and RE5. Occupational history:  Martin worked in the corporate private sector for 25 years as accountant, financial manager and financial director of various companies. He became involved in the pension fund industry as trustee since 2001. In 2008 he became co-owner of a pension fund administration company. The administration company closed in 2012 after which Martin was employed by RFS Administrators as a senior manager. Martin serves on 7 board of trustees mostly as principal officer having more than 17 years pension fund experience.


Independent trustee

Age: 68

Academic Qualifications: Standard 10.

Vocational Qualifications: Various internal development courses within Sanlam. Various external career and self-development courses. Occupational History:  Gert has almost 40 years’ employee benefits experience within Sanlam which includes direct clients and key account experience on pensions. Gert serves as trustee on 7 board of trustees mainly as independent trustee since 2013.



The Pension Fund Act does not in any way recognise or deal within the concept of a Manco.

The Act only recognises the Board of trustees and imposes a series of duties and obligations on the Board and its members.  Only the Board is the directing mind and will of the Fund and only it can legally bind the Fund.

Manco’s  do, in relation to the fund,  the following:

  • They decide between investment portfolios made available by the Board.
  • Decide whether members will have investment choice.
  • Select a provider of insured benefits.
  • Supply information to the fund.
  • Act as a conduit for communication between the fund and the member.
  • Monitor the performance of the Fund.
  • Recommend allocation of death benefit within broad parameters laid down by Board, but the Board retain the final responsibility.

The Manco members are not officers of the Fund.  They are not covered by the Fund’s insurance arrangements.  It is possible that the Manco members may become individually and collectively liable for their conduct.  As an alternative the employer may be held liable for the conduct of the Manco members.    The employer should, therefore, consider covering, in its insurance, the Manco members in as much as they conduct activities usually conducted by the Board.

We as a Board appreciate the Manco’s support in the management of the Fund’s affairs.



Your communication with the Funds will almost without exception be via your Consultant.  It is, however, possible that you may wish to converse with us directly and we assure you that we follow an open door policy so you are welcome but we will have to honor your relationship with your Consultant and where in any way possible, without breach of confidence, we will inform your consultant of the communication we had from you.  Your first port of call should you want to communicate with us will be the Principal Officer.

Martin Gouws


Email : marting@rfsolutions.co.za Tel : 012 523 5324

31 January 2019

This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. (E&OE)

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