Fund, industry and legal updates

The trustees have formulated an investment strategy that complies with the provisions of Regulation 28 of the Pension Funds Act, after considering the advice of the fund’s investment and other professional advisers.

Goals-based LifeStage enhancements (for members in the Select Access and Full Access options)

The trustees reviewed the Goals-based LifeStage strategy last year and have made some enhancements. The aim of the enhancements is to encourage you to consider the type of pension you will buy when you retire.

The new income target portfolios align with the different types of annuities purchased at retirement. The asset allocation of the portfolios also considers the cash portion you will take at retirement.

The enhancements were introduced in two phases:

Phase 1: June 2022

Enhancement of the default option aligned to a with-profit annuity. The AF Protector and AF Passive Protector portfolios were replaced by the AF Access Houseview Income Target portfolio and the AF Access Houseview Passive Income Target portfolio

Phase 2: September 2022

Two additional income target portfolios were introduced:

• AF Access Inflation Income Target portfolio

• AF Access Flexible Income Target portfolio

These options allow you to choose the most suited pre-retirement portfolio that is aligned to the type of pension you want to buy at retirement.

AF Retirement Navigator

For employers in the Base Access option the default investment portfolio is the AF Retirement Navigator, and no investment choice is offered.

Launch of Alexforbes Rewards

Alexforbes Rewards was launced in July 2022. It’s been a great success. Give the online shopping platform or USSD facility a try. There’s something for everyone and there no subscription fees.

Issued to members since launch:

9 300+ vouchers

12 000+ supermarket coupons

Nearly R3 000 000 in savings!

This is what you’ll get:

• Supermarket coupons: Shoprite, Checkers, Checkers Hyper and Pick n Pay. Save on dayto-day necessities with exclusive rand values from leading retail chains.

• Wellness coupons: Dischem. Stay healthy and save the next time you shop for health and wellness products.

• Travel deals: Randgo. Expert agents help you to find the best holiday and travel solutions.

• Airtime deals: Vodacom, Virgin Mobile, Telkom Mobile, Cell C and MTN. Access to discounts on airtime and data from South Africa’s leading providers.

Make sure we have your ID or passport number and email address or cell number so you can access Alexforbes Rewards. Please give your ID or passport number to your HR or payroll department so we can give you access.