Big Business Insights: The evolution and future of umbrella funds

The number of registered retirement funds in South Africa has collapsed from almost 16 000 in 2000 to fewer than 5 000 in 2023. Currently, only around 870 of the registered funds are active. For companies, this is a chance to fundamentally redesign employee benefits to help deliver substantially better financial outcomes for their people. In this episode of Big Business Insights, brought to you by Old Mutual Corporate, host Blessing Utete, Commercial Executive Head at Old Mutual Corporate, discusses the opportunities of fund consolidation for employers.  Joining us is Astrid Ludin, Deputy Commissioner at the Financial Sector Conduct Authority, with 15 years of experience in consumer protection, financial regulation, inclusion and education. Our other guest is Michelle Acton, Chief Customer Officer at Old Mutual Corporate, whose work involves research and insights, customer engagement, education, data and reporting. Prior to this, she successfully led the Two-Pot programme across the Old Mutual Group.   The discussion covers the myths and truths about umbrella funds, how technology can personalise an employee benefits experience, and the consolidation lessons we can learn from other countries. All of this to achieve our collective goal: giving members the best possible chance at a secure retirement.   Follow the Old Mutual Employee Benefits page on LinkedIn and visit the Old Mutual Corporate Resource Hub for more insights, research and analysis to help you make the best decisions for your business, your employees and yourself.  Old Mutual Employee Benefits page on LinkedIn · Old Mutual Corporate Resource Hub · Michelle Acton on LinkedIn · Astrid Ludin on LinkedIn · The Financial Sector Conduct Authority (FSCA) · Umbrella fund boom: advisors should assess fit, not just fees · SME South Africa: Employee benefits for small businesses · The future of employee benefits in South Africa