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Your Fund

All members should understand the benefits provided by the Fund and the investment management carried out by the Trustees.

Fund Investments

This money is mostly invested in the Alexander Forbes Investments Navigator Portfolio, with a small portion invested in the Alexander Forbes Investments Shari’Ah High Growth Portfolio (offered as a choice to all Members).

Unless you have chosen the Shari’Ah investment portfolio (which was changed from the Old Mutual Al Baraka Fund to the Alexander Forbes Investments Shari’Ah High Growth Portfolio on 20 August 2024), 100% of your retirement savings have been invested in the Alexander Forbes Investments Navigator Portfolio since October 2023.

This portfolio provides you with a smooth ride along your journey of saving and growing your money for retirement using what is referred to as “bonus adjusted returns”.

This means that when the investment market is growing, some growth is held back so that when the investment market is losing value, amounts held back are used to give you a more stable return rather than you taking the full effect of the loss in value. Remember, there can still be losses on the capital over periods.

The graph below shows you how this works, the yellow line is the Alexander Forbes Navigator Portfolio your savings are invested in. The red line shows what the experience would be without the smoothing element.

Saving for retirement is a long-term goal; your savings are invested to give you the best possible long-term growth, but there will be ups and downs in the market in the short-term. Contributing as much as possible and never cashing out will have a huge impact on making the most of your savings’ growth!

If you can, putting more money away as an additional voluntary contribution means you can take advantage of the tax deduction and growth on a bigger pot of money!

Withdrawal Benefits

If you are leaving employment as a result of resignation, retrenchment, or dismissal.

Consider keeping your retirement savings invested (preserved) so they can keep growing. You can keep your retirement savings invested by leaving them where they are or transferring to a new fund instead of withdrawing them in cash.

1. Your Preservation Options (not taxed):
  • Leave your money in the current fund at a fee of 0.25% of your savings value per year (capped at R490.00 per month) – and you do not pay any advisor fees!
  • Transfer to your new employer’s fund.
  • Move to a preservation or retirement annuity fund.
2. Cashing Out (taxed by SARS):
  • If you cash any money out from your savings pot (if not already done in the same tax year), this will be taxed as income by SARS.
  • If you cash any money out from your vested pot (applies to what you had saved as at 1 September 2024), this will be taxed according to the SARS withdrawal tax table.

We encourage you to please think very carefully before you withdraw:

  • You pay taxes on lump-sum withdrawals.
  • You lose out on future growth and will struggle to rebuild your retirement savings.
  • Many retirees regret cashing out early—don’t let short-term needs jeopardize your long-term security.

Retirement Benefits

If you are leaving employment as a result of retirement.

We encourage you to please speak to an accredited financial advisor to assist you in making your decisions. If you do not have a financial advisor, please contact Mark Swanepoel Mark.Swanepoel@axioconsult.com, who can assist you.

Retire from the Fund

If you elect this option, you must decide:

Firstly, how much, if any, of your fund value you wish to take in cash (you are limited to one third in cash from the contributions [and growth thereon] after 1 March 2021); and then to use the balance of your fund value to:

  • Arrange a pension using the fund’s annuity strategy; or
  • Arrange a pension from any insurer or provider of annuities, either life annuities or living annuities.

It is important to realise that being paid any of your fund value in cash reduces the amount of money available to provide a pension in retirement and thus increases the risk of not having enough pension.

Remain invested in the Fund as a “deferred retiree”

This means your accrued capital will continue to be invested and grow until you are ready to receive a pension.

Once you are a deferred retiree you may elect at any time to retire from the fund and exercise the retirement options explained above based on your circumstances at the time.

You will incur the same investment fee as currently, and an admin fee of 0.25% of your savings value per year (capped at R490.00 per month) – and you do not pay any advisor fees!

Death in service

Your total retirement fund credit, plus your life cover benefit – details included below:

Your Life Cover Benefit

You are entitled to 3 x Your Annual Basic Salary plus medical aid subsidy life cover paid for by your Employer. This cover is in place to provide your factual and financial dependents with financial support if you pass away while in employment.

Your life cover is structured as a Fund benefit and there are a few important aspects that you need to be aware of as follows:

  • The monthly premium for your life cover is paid as part of the additional contributions to the retirement fund.
  • If you pass away, the life cover benefit will be paid to your financial and factual dependents together with everything you have saved for retirement at the time of your passing.
  • Please complete the beneficiary nomination form, which expresses your wishes for how you would like your life cover and retirement fund savings distributed. The Trustees will do an investigation into your financial and factual dependents to determine who was dependent on you at the time of death.
  • The life cover premium is tax-deductible on a monthly basis. If you pass away, the lump sum benefit will be taxable by SARS. However, we have included the approximate tax replacement cover as part of our insurance policy in place for you.

POPIA

How does the Fund handle your Personal Information?

By now, you will no doubt have received numerous emails from businesses updating you on how they are complying with the Protection of Personal Information Act (POPIA), which came into full effect on 1 July 2021.

Together with our Service Providers to the Fund in providing you with retirement funding benefits, we have security measures in place to safeguard your personal information when communicating with the Employer and you as a Member. This is to comply with POPIA, which is a law that enforces a person’s constitutional right to privacy by regulating the collection, use, sharing, storage, and destruction of personal information.

What do you need to know about your Personal Information and the Fund?

Security measures will apply to all recipients of our communications, which means you and the Employers. We will never send emails that have personal, identifiable information in the main text. Instead, we will include the personal information in secure PDFs attached to the email.

This means that the recipient will need a password to open the attachment and view the communication. The password will be specific and familiar to the recipient of the document, meaning that all recipients will receive a password in a separate email in order to access the password-protected document.

Please contact the Fund’s Chairperson or Principal Officer should you wish to view a copy of the detailed Privacy Policy of the Fund.

Fund Chairperson:

Julian Venter: Julian.Venter@dhl.com

Fund Principal Officer:

Michelle De Jager: Michelle@fccs.co.za

The Funds POPIA Privacy Policy is detailed below:

PAIA

The aim of the Promotion of Access to Information Act (PAIA)

The purpose of PAIA is to give effect to the constitutional right of access to information held by any private or public body that is required for the exercise or protection of your rights.

PAIA provides you with the right of access to information held by public and private bodies when you request such information in accordance with the provisions of PAIA, for the exercise or protection of any of your or another person’s rights.

If you make such a request, a public or private body must release the information unless PAIA or any other relevant law states that the records containing such information may not be released.

The Funds PAIA Manual is detailed below:

COOKIE POLICY

How does the Fund handle your Personal Information?

1. Introduction

This Cookie Policy explains how we use cookies and similar technologies on our website www.dhlprovidentfund.co.za. This policy is designed to help you understand what cookies are, how we use them, and the choices you have regarding their use.

2. What Are Cookies

Cookies are small text files that are stored on your device (computer, tablet, or mobile phone) when you visit certain websites. They are widely used to enhance your online experience by remembering your preferences and actions over time. Cookies are not harmful and do not contain personal information like your name or payment details.

3. How We Use Cookies

We use cookies for various purposes, including:

  • Essential Cookies: These cookies are necessary for the basic functioning of our website. They enable you to navigate our site, use its features, and access secure areas.
  • Analytical/Performance Cookies: These cookies help us understand how visitors use our website. They provide information about which pages are visited most frequently, how long visitors stay on each page, and whether they encounter any error messages. This data helps us improve the performance and usability of our website.
  • Functionality Cookies: These cookies allow our website to remember choices you make (such as your username, language, or region) and provide enhanced, personalised features.
  • Targeting/Advertising Cookies: These cookies are used to deliver advertisements that are relevant to your interests. They may also limit the number of times you see an ad and help measure the effectiveness of ad campaigns.

4. Your Cookie Choices

You have the option to manage your cookie preferences. You can usually modify your browser settings to accept, reject, or delete cookies. Please note that if you choose to block or delete cookies, some features of our website may not function properly.

5. Third-Party Cookies

We may allow third-party service providers to use cookies on our website for the purposes outlined in Section 3. These providers may also collect information about your online activities over time and across different websites.

6. Updates to This Policy

We may update this Cookie Policy from time to time to reflect changes in technology, law, or our data practices. Any changes will become effective when we post the revised policy on our website.

By continuing to use our website, you consent to the use of cookies as described in the Data Protection Policy detailed below: