Scroll Top

For trustees: How to choose the right financial institution

IN SHORT: Trustees of a retirement fund are tasked with numerous complex responsibilities to manage, grow, and protect the fund’s capital, which can amount to billions of rands. To effectively fulfill these duties, they need the right financial institution by their side.

Retirement fund trustees fulfil various responsibilities to manage, grow and safeguard the fund’s capital.

The fund’s administration also falls within the ambit of these responsibilities. This ranges from collecting contributions and paying benefits to banking, analytics and reporting.

Various financial institutions offer these services to trustees. The onus is on the trustees to appoint one that meets the fund’s needs. This requires due diligence by the trustees whereby the possible candidates’ services and track records are scrutinised.

So, what should trustees look out for when bringing such an institution on board? Here are key considerations for finding the right partner.