Sanlam Limited · JSE:SLM
Sanlam — Sanlam Benchmark Survey 2019
22 slides from Sanlam's conference presentation, 2019
Slide 1: iConsulting
iConsulting by Avishal Seeth & Elrina Wessels Branch Head: Gauteng Head: strategic consulting Simeka ACA Employee Benefits
Slide 2: The spectrum of advice has widened
THE SPECTRUM OF ADVICE HAS WIDENED Wellness Debt Counselling Asset Consulting Financial Financial planning HR Health Medical
Slide 3: Retail vs. Institutional
RETAIL V.S. INSTITUTIONAL
Slide 4: Slide 4
Slide 5: Debt = Stress
Debt = Stress ©) he e
Slide 6: Second most dominant trend – advice shift to focusing more on members
BENCHMARK SURVEY 2019 Second most dominant trend – advice shift to focusing more on members
Slide 7: Default regulations
DEFAULT REGULATIONS Default Preservation Default Investments Trustee endorsed annuity strategies Retirement benefit counselling
Slide 8: Current composition of SUF
Paid up Current composition of SUF 3-5 Years In 10 Years? Active
Slide 9: Slide 9
Slide 10: Case study
CASE STUDY Fund A Retirements Life Annuity Living Annuity % to Life Annuity % to Living Annuity Average Fund Credit allocation 2013 316 115 201 36% 64% 5,000,000 2014 350 131 219 37% 63% 4,500,000 4,000,000 2015 351 103 248 29% 71% 3,500,000 2016 243 160 83 66% 34% 3,000,000 2017 267 169 98 63% 37%
Slide 11: But what do members say…
BUT WHAT DO MEMBERS SAY… I didn’t know where to start but you helped me to understand the process and what is expected of me. When I reached my I don’t think I would have retirement age coped without your nobody was able to assistance give me advice. Spotlight: ACA Employee Benefits
Slide 12: Impact of retirement benefits counselling at withdrawal
IMPACT OF RETIREMENT BENEFITS COUNSELLING AT WITHDRAWAL 100% 90% 90% 80% Percentage of Members 70% 72% 60% % Cash withdrawals 50% Counselled Not Counselled 40% 30% 20% 10% 0% Choice at Exit
Slide 13: Individualised attention
INDIVIDUALISED ATTENTION Face to Face for All Information Sessions Telephonic Electronic Artificial Intelligence
Slide 14: Employee's lifecycle
EMPLOYEE’S LIFECYCLE Joining company Life changing events during employment Exit company Preservation Withdrawal / retirement option Investment Medical aid choice Important decisions / choices during employment choice Contribution WILL rate Medical aid choice Update Upgrade medical Take further Upda
Slide 15: Life journey
LIFE JOURNEY
Slide 16: Normal NRR
NORMAL NRR © 120% 100% 80% 60% 40% Replacement Ratio (RR) 20% 0% 16 Age @<50% @50%-75% @75%-100% @>=100%
Slide 17: Average NRR of members
AVERAGE NRR OF MEMBERS 25°%
Slide 18: Average NRR of trustees
AVERAGE NRR OF TRUSTEES 0%
Slide 19: amazon re
amazon re
Slide 20: Refilwe: Saving for retirement journey of the future
Q Saniam L Refilwe: Saving for Retirement Journey of the Future f) interact uLTMaATE ouTooue 1am exposed to knowledge from a young age JOURNEY + Education around financial health to be computsory for: + Toensure don’t make the same mistakes my parents did SPECTAT | understand what | am committing to
Slide 21: Impact
IMPACT Understand User Experience When are decisions made What triggers interest How to influence at these points
Slide 22: AAW sas
ee = AAW sas ee