IF Umbrella Pension and
Provident Fund
Dynam-ique SA Umbrella
Pension and Provident Fund
12 May 2015
Dynam-ique SA Umbrella Pension Fund
Dynam-ique SA Umbrella Provident Fund
IF Umbrella Pension Fund
IF Umbrella Provident Fund
Communication from the Trustees to members, employers and brokers
Great news! We have received formal approval from the Financial Services Board of rule amendments
1 and 2. Rule amendment 1 in effect allows a deficit in a Fund to be applied to a member’s fund
credit, thereby returning the Fund to financial soundness. Rule amendment 2 allows for the
implementation of amendment 1, where applicable, in consultation with the Funds’ actuary. A copy
of each rule amendment has been posted on the Funds’ website, www.funds-info.co.za
The Trustees will be meeting the FSB on 15 May to discuss the implementation of rule amendments 1
and 2, as well as the winding up of the Funds.
The funding levels for the Funds as at the dates shown below were as follows:
Dynam-ique SA Umbrella Pension Fund: 97.1% as at 28 February 2013
Dynam-ique SA Umbrella Provident Fund: 97.6% as at 28 February 2010
IF Umbrella Pension Fund:
100.7% as at 31 May 2013
IF Umbrella Provident Fund:
97.7% as at 31 May 2013
The Trustees have been requested to reconsider various issues relating to the provision of benefit
statements, the making of further interim payments to exited members and related issues. The
Trustees have considered these, but, with the FSB now having approved the rule amendments, they
have decided neither to divert the attention of Aon’s limited resources, nor to incur the further costs
that additional resources for this would require, from the critical matters at hand, namely, bringing all
the Funds up to date in terms of Annual Financial Statements and Valuations, so that the winding up
of the Funds can proceed as speedily as possible.
We will communicate again following our meeting with the FSB on 15 May and the resulting
discussions with our professional advisers.
JOHN ROLLASON
CHAIRMAN
LINDY WINGROVE-GIBSON
PRINCIPAL OFFICER
[email protected]
Registration number: IF Pension (12/8/37464) IF Provident (12/8/37452)
Dynam-ique Pension (12/8/37635) Dynam-ique Provident (12/8/37634)
Registered Address: 70 Grayston Drive, Sandton, Johannesburg
Trustees: J Rollason (Independent Chairman), R Welham (Independent Trustee), F Khoza
(Independent Trustee), G Griffin (Trustee),
L Wingrove-Gibson (Independent Principal Officer)