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Corporate Trustee

We ensure that current and future generations benefit from continuity.

What is a Corporate Trustee?

A corporate trustee, just as the name suggests is a corporate body whose work entails providing corporate trustee services to pension schemes as well as institutions.

A corporate trustee just like an individual trustee has the following duties and responsibilities in a pension scheme.

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To manage and administer the Scheme in accordance to the RBA regulations and to act withdue care, diligence and good faith.

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To take all reasonable steps to ensure that the interests of Members in terms of the Rules andthe Retirement Benefits Act and Regulations are protected at all times.

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To act with impartiality in respect of all Members and beneficiaries and to comply with theprovisions of the scheme Trust Deed and Rules.

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Obtain approval for treasury ( not required for private firms – only applicable to public institutions).

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Administer the scheme in accordance with the provisions of the RBA regulations.

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Determine benefits entitlement eligibility of members at exit.

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Ensure that proper control and risk management systems are in place for effective management of the scheme.

Benefits of our Corporate Trustee Services to your scheme.

 

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Expertise: We have a wealth of experience in managing pension schemes and this can be ofgreat value in terms of good governance and professional advice to your scheme.

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Networks: We bring on board a wider resources of skill variety and is likely to be able to address all the needs of the scheme.

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Independence: Individual trustees often face outside pressures which a corporate trustee is normally imperious to. We make decisions independent of any interference from outside parties while acting in the best interest of the members of the scheme. We obviously listen tot he sponsor views but are not unduly influenced to act outside the legislative framework.

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Costs : by having a corporate trustee one is able to manage the costs to the scheme as other costs like training of trustee costs which would ordinarily be part of the scheme costs are not there.

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Time: The board of trustees usually meet at least a minimum of 4 times in a year and sometimes in very busy organizations; one may not have adequate time to commit to these meetings. To be able to effectively manage the scheme one has to have ample time to go through the various reports and ensure that the objectives of the scheme are met.

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Service: In the context of the trustee relationship, the word “service” encompasses not only the administration and investment of the trust assets, but also the ability and willingness to make oneself readily available to the many and varied needs of the trust’s beneficiaries. Inmost instances it is simply not practical to expect an otherwise already too busy individual trustee to have the time available to administer the trust properly and to be fully attentive to all of the beneficiaries’ needs.

Who can benefit from our Corporate Trustee?

 

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Institutions setting up or who already have an existing umbrella scheme.

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Occupational Pension Schemes.

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Individual Personal Pension Schemes.

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