Architect of Sweden’s internationally respected national pension system to address
BENCHMARK Symposium 09 presented by Sanlam Employee Benefits

Cape Town, June 2009:

The BENCHMARK Symposium hosted by Sanlam Employee Benefits (SEB) – the most anticipated event for South Africa’s retirement fund industry – will this year feature as its keynote speaker Ole Settergren, one of the architects behind Sweden’s internationally respected national pension system. Taking place in Johannesburg on Wednesday, July 22 and in Cape Town on Friday, July 24, the BENCHMARK Symposium is the largest gathering of stakeholders from across the country’s retirement landscape, including leading academics, fund managers and representatives from government, labour and the private sector. The event plans to offer a highly interactive and informative ‘reality check’ on the state of the industry, including pension funding trends and retirement issues relevant to all South Africans.

A leading economist, Settergren is currently a member of the Swedish Ministry of Health and Social Affairs and an expert in establishing and administrating national pension systems. He was a key player in creating and implementing a successful pay-as-you-go pension system in his country that has remained financially stable due to the system’s built-in flexibility to accommodate various demographic and economic changes. Based on his experience in different economic and political environments, Settergren will provide his perspective on some of South Africa’s unique challenges in constructing a national social security system, taking into account the country’s:
o Economic situation;
o Savings performance;
o Unemployment levels;
o Government departments and policies; and
o Regulatory environment for retirement funds.

Planning quality legislation and IT/administration systems
“Creating a fair and stable national pension system must be carefully thought through and deliberated from the outset,” says Settergren. “Considered a success, Sweden’s pension system took more than a decade to implement from conception to implementation. Given some of South Africa’s unique challenges, a similar timeline is likely as two essential elements – quality legislation and a reliable IT system to administer payouts and communicate with members – must be discussed and established from the earliest days.”

Most respected research – ‘reality check’
In addition, the results of the BENCHMARK Survey will be presented at the symposium by Elias Masilela, Head of Corporate Affairs and Retirement Reform for Sanlam and Dawie de Villiers, CEO of Sanlam Structured Solutions. Considered the yardstick for the industry, SEB’s research provides relevant statistics and insights into the management of pension, provident and umbrella funds, as well as investment choices, death and disability benefits, communication to members and numerous factors that will directly impact retirement funding decisions and whether people have sufficient confidence that they will retire comfortably.

According to Paul Myeza, CEO of Sanlam Employee Benefits: “The BENCHMARK Symposium will be the most interactive since Sanlam began publishing its research findings 29 years ago. We expect lots of debating and fruitful discussions around the survey results and the topics presented by the various symposium speakers.”

New: small group sessions and interactive panel discussion
In order to increase the amount of interaction between the attendees and speakers at the BENCHMARK Symposium, several interactive elements have been added to this year’s event, including three concurrent sessions with David Gluckman, Managing Director of Sanlam Umbrella Solutions at SEB, Karen de Kock, Head of Annuity Business at Sanlam Employee Benefits and Armien Tyer, Managing Director of Sanlam Investment Management. In addition, a high-powered interactive panel discussion, moderated by Allan Greenblo, editorial director of Today’s Trustee will feature:
• Jarred Glansbeek, CEO of RisCura
• Dr Haroon Bhorat, Professor of Economics, University of Cape Town
• Dr Johan van den Heever, Head of the Research Department, South African Reserve Bank
• Alan Hirsch, Deputy Director General of the Presidency and Deputy Head of the policy unit.
• Elias Masilela, Head of Corporate Affairs and Retirement Reform, Sanlam

For more information visit: www.sanlamevents.co.za.

Ends

About BENCHMARK SYMPOSIUM 09
The BENCHMARK SYMPOSIUM is considered a must-attend event in South Africa for intermediaries, principal officers, trustees, service providers, asset managers, government department officials and union representatives. The BENCHMARK SURVEY is the most comprehensive and respected survey of its kind for the country’s retirement fund industry, providing relevant statistics and insights into the management of pension, provident and umbrella funds.

About Sanlam Employee Benefits
Sanlam Employee Benefits specialises in the provision of risk, investment and administration services to institutions and retirement funds. Focused on meeting the unique needs of its diverse clients, SEB assists companies create and deliver customised employee benefits solutions, including the collection of premiums and communication to fund members. For more information, please visit www.seb.co.za.