- Collecting and reconciling member and employer contributions;
- Processing member and employer contributions;
- Paying risk insurance premiums and service provider fees;
- Investing net contributions according to individual member investment choices;
- Processing investment switches of individual members;
- Processing life stages investment switches and the rebalancing of investment portfolios;
- Processing benefit payments of members leaving employment and exiting the funds;
- Processing group life insurance and disability claims from insurers;
- Getting tax directives and paying taxes and members’ net benefits;
- Compiling and submitting tax returns to SARS;
- Reconciling bank accounts and investment accounts;
- Processing accounting transactions of all financial transactions;
- Preparing comprehensive financial statements in accordance with legislative requirements;
- Coordinating annual financial audits of independent auditors;
- Presenting financial statements to trustees and getting their approvals;
- Submitting annual financial statements to the authorities;
- Monitoring investments against SARB and Regulation 28 requirements;
- Submitting investment reports to SARB;
- Submitting Regulation 28 breaches to the authorities;
- Performing detailed asset and liability reconciliations at member, portfolio and fund levels;
- Providing data extracts for annual actuarial valuations;
- Providing on-line member access to their benefits, cash flows and investments information;
- Providing annual member benefit statements and fund information;
- Preparing quarterly administration and management reports;
- Attending management committee and trustee meetings;
- Liaising with trustees, employers, authorities and service providers;
- Drafting and registering Fund Rules, Special Rules and Rule Amendments;
- Managing and processing Section 14 fund transfers; and
- Assisting with registrations of solutions administered by Global.
- Independent standalone pension and provident funds
- Independent and insured umbrella pension and provident funds
- Participating employers to umbrella funds
- Unclaimed benefits pension and provident funds
- Approved or unapproved risk insurance schemes
- Clients with bespoke product solution requirements (through our independent umbrella funds)