Stephen Cranston Writer & columnist

The week of the Sanlam Benchmark conference is a useful time to reflect on whether the retirement fund industry is doing its job. Of course, whatever progress it makes in reducing costs — by bringing in cheap index funds, for example — the number one, two and three problem is insufficient savings.

At least it is a more manageable industry. Sanlam marketing actuary Viresh Maharaj (though I believe he has a less ridiculous title these days) says there were 13,000 funds in 2005 and 1,500 funds in 2019. And there are also 350 funds that are in the process of transferring into umbrella funds or merging...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now