OLD MUTUALSUPERFUND

RiskUnderwriters(Old Mutual)

Old Mutual SuperFund Pension and

Provident Funds

Board of Trustees

Administrator(Old Mutual)

Investment Managers

ParticipatingEmployer

Special Rules

ParticipatingEmployer

Special Rules

ParticipatingEmployer

Special Rules

ParticipatingEmployer

Special Rules

ParticipatingEmployer

Special Rules

Master Rules

WHY AN OLD MUTUAL UMBRELLA FUND?

Solid track record that’s been proven in the market

Old Mutual smoothed bonus investments

Backed by the strength of Old Mutual with its commitment to service excellence

Ability to use experience to create simple, but excellent solutions

National footprint

The bottom line?Old Mutual has been doing this for a long time.We’ve learned the lessons and we know what we’re doing which means you reap the benefits.

The Old Mutual SuperFund Retirement Funds surpass the current FSB guidelines for umbrella funds

Advanced Governance

Funds are audited annually

Valuations as required by regulators

Each sub-fund (participating employer) is separately accounted for

More than half of the board members are independent from Old Mutual

Old Mutual’s role is clearly defined in the Rules of the Fund

Service providers may be replaced by the board members if so desired

In addition to the management board, good member representation can be facilitated through member committees

A SOLUTION FOR EVERYONEComprehensive Product Range

Maximum Employer Flexibility

MemberChoice

EmployerDefined

Package

SimplePackage

ORION

EVERGREEN

EASYBENEFITPLAN

EVERGREEN INVESTMENT

ADVICE

UNCLAIMED BENEFITS FUND

PROTEKTOR PRESERVATION FUNDS

MinimumRequirement

Benefits

Minimum 100 membersOR minimum API R100k pmAND minimum R10m assets

Flexible BenefitsEmployer Specific

Investment Strategy

Flexible BenefitsMember Investment

Choice

Tailor-madeBenefits

ComprehensiveCore Benefits

Limited Choices

Minimum 50 membersOR minimum API R50k pm

Minimum 10 members

Minimum 5 members

OLD MUTUALSUPERFUND

EASY BENEFIT

PLAN

• Defined Contribution Umbrella Provident Fund

• Defined employer contribution, employee make voluntary contribution

• Umbrella Risk Arrangement

• Insured benefits are pre-determined and pre-priced

• Family Funeral Benefit

What is the Old Mutual Easy Benefit Plan?

• Standard benefits

• Generic quotation (no need for member data because all contribution rates, benefits and costs pre-determined)

• No upfront underwriting

• One smoothed bonus investment portfolio

Contributions and Premiums

Employer (% of salary)

Retirement Savings: 5.2%

Insurance: 2.5%

Scheme expenses:0.8%

Total: 8.5%

May make additional voluntary contributions (any amounts)

Fee of R21 per member per month (deducted from savings account)

Employee

0% of salary

May make additional voluntary contributions (any amounts)

Insured Benefits - Death

Type of Benefit Cover Special Conditions Legal vehicle

Life Cover Age<50: 1.2 x actual retirement funding income over last 12 months; Maximum of R216 000.

Age>50: 0.8 x actual retirement funding income over last 12 months; Maximum of R144 000

6-months exclusion for natural death

Retirement Fund

(approved)

Family Cover R5000: Employee, spouse, child aged <20 and >14

R2500: Child aged <14 and >6.

R1000: Child aged <6 (includes stillborn).

6-months exclusion for natural death

Insurance policy outside the Retirement Fund

(unapproved)

Insured Benefits – Injury and Incapacity

Type of Benefit Cover Special Conditions Legal vehicle

Lump Sum Age<50: 1.2 x actual retirement funding income over last 12 months; Maximum of R216 000.

Age>50: 0.8 x actual retirement funding income over last 12 months; Maximum of R144 000.

6-month waiting period

Pre-existing conditions excluded (24/24)

Retirement Fund

(approved)

Temporary Income Replacement

75% actual retirement funding income over last 12 months; Maximum of R11 250 per month.

Payable for a maximum of 5 months in any 24 month period.

1-month waiting period

Pre-existing conditions excluded (6/12)

Insurance policy outside the Retirement Fund

(unapproved)

Pre-requisites for participation

Internet & email

Negotiation with staff and change to employment contracts

80% of permanent staff participate upfront (minimum of 5 at commencement)

100% of all new eligible employees must participate

OLD MUTUALSUPERFUND

ORION

Orion

• A suite of building blocks to create an employee benefits solution for small and medium enterprises.

• No member choice.

• Limited selection of investment options:

• Absolute Stable Growth Portfolio (80% guarantee) (DEFAULT)

• SYmmETRY Aggressive, Balanced, Conservative and Islamic Funds

• Selected by employer per member category

• Can combine Absolute Stable Growth Portfolio and a Symmetry Fund

• Comprehensive, competitively priced group risk benefit options

• All costs charged as % of salary

• All combinations of inclusive and exclusive contribution structures available

• Housing sureties allowed

Orion Group Life Assurance Benefit

Group Life Assurance Benefits

(Defined Benefit)

• Cover to continue (Compulsory with GLA & Disability Income in within one member group)

• Lump sum on death of member

• Multiple of salary (max 10 x annual salary or R35 mil) OR

• Fixed rand amount (flat cover)

• Lump sum in addition to Group Life Assurance benefit provided on accidental death

Accident Death Benefits:

• Not offered without Group Life Assurance

• Maximum 100% of Group Life

Assurance OR

• 5 x annual salary

• Conversion option

Family Funeral Benefit

Life Covered Maximum cover

Main member R60 000

Spouse R18 000

Dependent child >14 R18 000

Dependent child 6-13 R12 000

Dependent child 0-5 R6 000

Still born child R3 000

Disability Benefits

Disability Income Benefits

Provide an income upon disability,

paid until normal retirement date,

recovery or death – whichever occurs

first.

Additional benefits offered:

• Employer waiver

• Conversion option

• Escalation

Lump Sum Disability Benefits

Lump sum provided on total and permanent disablement of member.

• Group Life benefits required

• Annuity in respect of Pension Fund

• Maximum = lesser of GLA benefit, 5 x Annual Salary or R5 million

• Options:

- Own and Similar Occupation

- Any Occupation

Expenses and Fees

Expenses and fees

Scheme Administration Fee

Participating Employer per month:R400 (incl VAT) using Direct Debit

R600 (incl VAT) not using Direct DebitThese fees combine into a single % of salary included with contributions

MemberAdministration Fee

R21 (incl VAT) per member per month deducted from contributions

Fund Expense Fee

R4.50 per member per month (included in R21 above)

Advice Fee LOA commission scale used

Investment fees (Absolute Stable Growth Portfolio)

Currently 0.65% pa investment fee PLUS 0.70% pa capital charge

Summary of participation requirements

Minimum of 10 members

If insured disability benefits selected, all members must be covered.

If Family benefits selected, all members must be covered.

If GLA benefits selected:

o All members must be covered and

o Minimum of 10 members per defined benefit level (multiple or fixed amount)*

* For a scheme with at least 50 members or R50 000 total monthly contributions, this requirement will be waived only for an executive/senior management group with less than 10 members

OLD MUTUALSUPERFUND

EVERGREEN

Evergreen

A solution geared for larger employers or employers with more diverse workforce requirements

Member level investment choice

Servicing geared to larger employers with no intermediary payroll admin involvement

Defined Contribution only

Pension or Provident Fund

Inclusive (total contribution rates decided – retirement contribution rates are balance after costs/premiums) or exclusive (retirement contribution rates decided – total contribution rates are sum of retirement contribution rates and costs/premiums) employer contribution basis

Open architecture risk benefits

Education seminars delivered to members

Housing sureties allowed

Risk Benefits

Offering more options

Any Licensed Life Insurer

Enable different benefit levels/different underwriting conditions

Defined Benefit or Defined Contribution risk benefits

Negotiated underwriting conditions acceptable to participating employers, members and trustees

Advantages of Old Mutual insurance

Managed disability product

Funeral support service (transport of mortal remains, etc.)

Structured Member Choice 3 Package Options – Pay for what you use

Contribution choiceNo investment choiceAnnual statements

Smoothed Bonus

Contribution choiceStructured investment choiceAnnual statements

Quarterly investment statements

Smoothed BonusLifestageIslamic Fund

MANAGED CHOICE

Contribution choiceFlexible investment choiceAnnual Statements

Quarterly investment statements

Smoothed BonusLifestageFlexible investment choice

FLEXIBLE CHOICELOW CHOICE

(DEFAULT)

Investment Portfolios

Absolute Stable Growth

Coregrowth

Absolute Stable Growth

Coregrowth

Absolute Stable Growth

LOW CHOICE MANAGED CHOICEFLEXIBLE CHOICE

Life stage

Multi-managers

Single Asset Managers

SYmmETRY ForLife - Aggressive ForLife - Stable ForLife - Defensive

SYmmETRYAggressive BalancedCPIX + 5

Islamic Fund Inv Solns Conserver

Performer62.5% Equity

SYmmETRYIslamic Fund

SYmmETRY ForLife - Aggressive ForLife - Stable ForLife - Defensive

DEFAULT

OMIGSA Money MarketCommunity Growth GiltGiltAbsolute ReturnProfile PinnacleProfile BalancedProfile Stable Growth

Allan Gray Domestic Balanced Domestic Stable

Global Balanced Global Stable Fraters Real Income

Coronation Global Absolute HouseviewManaged Portfolio II

Investec Managed Opportunity Income Prudential Inflation Plus

Allan Gray closed for new selections

Expenses and Fees

Expenses and fees

Scheme Administration

Fee

R1 000 (incl VAT) per participating employer per month – Pay via direct debit (automated collection)

R1 500 (incl VAT) per participating employer per month – Do not pay via Direct debit

Member Administration

Fee *

Low ChoiceR21 (incl VAT) per member per month

deducted from contributions

Managed Choice

R37 (incl VAT) per member per month deducted from contributions

Flexible ChoiceR63 (incl VAT) per member per month

deducted from contributions

Advice/Service/ Consulting

Fee

% of contribution or flat %Negotiable from zero to max of LOA commission scale amount

Investment fees (Absolute

Stable Growth Portfolio)

Currently 0.65% pa investment fee + 0.70% pa capital charge

Switch FeeThere is NO FEE for changing Package options or switching

assets amongst the investment portfolios

* Member Administration Fee includes the Fund Expense Fee of R4.50 per member per month

OLD MUTUALSUPERFUND

EVERGREEN

INVESTMENT

ADVICE

Evergreen Investment Advice

Investment Advice at participating employer level

The employer, with assistance from investment consultant, tailors the investment options to the needs of its employees

A solution geared for larger employers

Accredited investment consultants include OMAC , Symmetry and acsis

Conditions for participation

If a participating employer selects the Evergreen Investment Advice Option, then the Evergreen standard ‘no-advice’ options (Low, Managed and Flexible Choice Options) will not be available to members.

The Evergreen Investment Advice option can only be selected by an employer and not by individual members. 

Ongoing advice: Once the option is selected the employer group will receive initial and ongoing investment advice.

Members cannot opt-out: Members in a category where this option has been selected will not be able to opt out.

Employer and adviser assume liability: The employer and adviser will assume contractual liabilities in respect of the investments selected.

Minimum membership/contributions: A scheme must have a minimum of 50 members or monthly contributions of at least R50 000.

Expenses and Fees

Scheme Administration Fee

R1 000 (incl VAT) per participating employer per month charged as % of salary

Member Administration Fee

Investment Advice Option

R40 (incl VAT) per member per month deducted from contributions

Fund Expense FeeThe R40 admin fee above includes a R4.50 per member per

month

Advice Fee (intermediary/service)

Investment Consulting Fee

LOA scale or % of salaries

% of assets up to 0.5% excl VAT(or up to 0.57% incl VAT) of the assets per annum

Switch Fee None

Group Choice with member controlMember Choice

Evergreen Investments

Low Choice

R21pmpm

Managed Choice

R37pmpm

Flexible Choice

R63pmpm

Group Investment

Advice

R40 pmpm

Advice fee up to 0.5% (excl VAT) ofassets p.a.

OM Corporate receives 30% of this.

Existing Evergreen MLIC product option in SuperFundNew Evergreen Investment

Advice product in SuperFund

OLD MUTUAL

SUPERFUND

Value Adds

SUPERFUND ADDING VALUEA range of extra member benefits

AT NO ADDITIONAL COST IF GLA AND/OR FAMILY BENEFITS INSURED

WITH OLD MUTUAL: Funeral Support Service

• Transport of mortal remains from anywhere to any destination in South Africa

• Family assistance with funeral arrangements

AT NO ADDITIONAL COST IF DISABILITY BENEFITS INSURED WITH OLD

MUTUAL: Disability CareLine

AT NO ADDITIONAL COST IF INSURED BENEFITS WITH OLD MUTUAL: Travelling Nurses – a great new initiative designed to take the hassle out of underwriting

AT NO ADDITIONAL COST FOR SELECTED CLIENTS: Financial Wellbeing Program – a solution for employees providing:

• Financial Education – for ALL levels of staff

• Access to Advice – for ALL levels of staff

Communication

Electronic newsletters emailed to intermediaries, employers and members

Trustee newsletters to members

Internet site with information for members, employers and intermediaries (www.oldmutual.co.za/superfund) (www.oldmutual.co.za/evergreen) (www.oldmutual.co.za/orion) (www.oldmutual.co.za/easybenefitplan)

Secure payroll web for submission of payroll data

Secure web access for members to see values and information (Evergreen)

THANK YOU

“The future depends on what we do with the present.”