Retirement fund trustees know how difficult it is to allocate section 37C death benefits in such a way that will stand up to legal scrutiny.  Funds who still deal with the allocation process in a fairly informal manner, leave themselves open to very costly legal challenges and possible personal liability.

All of which is history with Sanlam's new online calculator, which you now may view in action here.  Its built-in scientific formulae take care of these complex calculations in an instant, and the proposed process and procedures allow trustees to exercise their discretion based on proper information in a way that is not only equitable but also consistent and properly considered.

This process and the criteria in terms of which death benefits can be allocated, will not only create structure and certainty in the minds of trustees and members – it is another step towards a more democratised retirement fund, in keeping with the changing needs of members and employers.

For a more in-depth working knowledge, you're welcome to attend our workshops in Gauteng or Cape Town, where Sanlam is making the Death Benefit Calculator together with all accompanying forms, processes and procedures available. 

If you'd like us to demonstrate this powerful tool to you, please  register for a workshop here. Clients who have already registered may access the Death Benefit Calculator here, using their usernames and pin numbers.

The workshops

Sanlam Death Benefit Calculator workshops will be held in Cape Town and Gauteng and will be conducted in English.  Workshops elsewhere can be arranged on request.  Anyone who wishes to attend a workshop is invited to complete a registration form.  Attendance of the workshop will be free of charge.  A user registration fee is payable for those who do not qualify for the free Death Benefit Calculator arrangement as set out below.

At the workshop:

• We will discuss the pitfalls and dangers involved in the conventional death benefit allocation processes, and the alternatives available to trustees.
• Explain why we believe that it is essential to lay down criteria or decisional referents in terms of which death benefit allocations should be made.
• Work through the forms to be used in obtaining information regarding potential dependants, both before and after the death of a member.
• Explain the advantages of introducing a process orientation to the information gathering and allocation stages.
• Do a number of examples to illustrate the utilisation of the calculator in various scenarious, from single households and previous relationships with dependants to polygamous family structures. 

Demonstrating the Sanlam Death Benefit Calculator:

• A number of examples will be illustrated in order to ensure that the correct data is extracted from the new forms by registered users and fed into the Calculator.
• Exceptions to the rule will be discussed.

Supporting material and access to the calculator

Registered users will be provided with:

• A username and initial password which will allow you access to the Internet-based Calculator.
• A user guide and the recommended forms.  All the documentation is available in electronic format via the Internet.

Cost and registration

Standard arrangement

Retirement funds, brokers and advisors who has attended a free workshop and who wishes to register as users, need to complete the registration form and settle the registration fee set out below. The product will be registered in the name of one of two categories of users:

• In the name of a retirement fund.
• In the name of an individual consultant or financial advisor.

The registration fee for retirement funds, consultants, financial advisors or other interested persons is R1800,00.  Each trustee and/or principal officer who attends the workshop can be registered as a user and will be provided with a username and initial password. (All fund officials should register together.) (Attendance of the workshop is compulsory as it is considered essential for the proper use and understanding of the calculator.)

The registration fee will entitle users to 70 calculations or visits to the Internet calculator.  Additional visits can be purchased in batches of 50 at R10,00 per visit (R500,00) as and when required.  On special application, group rates can be arranged for three or more accredited consultants (R500,00 pp for 20 visits each). (All fund officials should register together.)

How to register for workshops, get user access or purchase additional credits
(Please follow the steps below)

1.  Submit the registration form below. Please submit a separate form for each
     delegate.
2.  Deposit your fee in favour of Sanlam Employee Benefits.
3.  Fax a copy of the deposit slip as proof of payment to (021) 957-2074. No credit
     card payment can be accepted.

Account details
(please quote reference no. 1500150015004 on deposit slip)

ABSA cheque account
Account number 01 01710 2342
Sanbel branch code 632005

VAT: Registration No. 4690107646.

Note: The product will be registered in the name of the fund or in the name of the individual consultant or financial advisor.

Standard arrangement registration form

Free access arrangement – for group life clients (or their risk consultant) and funds administered by Sanlam

The offer is available to clients who has attended a free workshop  andwho on or after 1 July 2005 have:

• secured a new group life cover policy with Sanlam,  
• renewed  their group life cover policy,
• as well as all funds administered by Sanlam.

The funds' principal officer, trustees, risk consultant, benefit consultant or the HR staff who serves on the death benefit allocation committee and  who has attended the workshop can apply to be registered as users in respect of their retirement fund. (Attendance of the workshop is compulsory as it is considered essential for the proper use and understanding of the calculator.)  The number of FREE visits to the Internet-based calculator is limited to 70 visits.  Additional visits can be requested in batches of 50 as and when required.

How to register for workshops, get free user access or request additional credits
(Please follow the steps below)

1.  Submit the registration form below. Please submit a separate form for each
     delegate.

Note: The product will be registered in the name of the fund or in the name of the individual consultant or financial advisor.

Free access arrangement registration form

Workshop details:

Gauteng

Contact the Registrar: Sanlam Death Benefit Calculator at tel. (021) 947-1018 or fax (021) 957-2074 or email benefitcalculator@sanlam.co.za

Cape Town

Contact the Registrar: Sanlam Death Benefit Calculator at tel. (021) 947-1018 or fax (021) 957-2074 or email benefitcalculator@sanlam.co.za