This fund is putting your members in the driving seat. Comfort, reliability and customisation are non-negotiable elements of the ideal vehicle. Which is why they characterise the Mosaic Member Choice defined contribution retirement arrangement.
Designed to deliver optimal service and maximum personal choice, this product is suitable for both Pension and Provident Funds, and is also suitable for back-to-back (Pension-Provident) arrangements.
Specifications
Supports daily, monthly and weekly priced products - Mosaic Member Choice supports daily priced unitised investment products as well as smoothed bonus investment products that are unitised and priced monthly or weekly in advance.
Facilitates member decision-making - Mosaic Member Choice facilitates member participation in decision-making by offering real-time transacting and providing the members with the relevant information required to administer retirement provision.
Access to account balances - members have access to relevant and timely information about Mosaic Member choice, their benefits and account balances and issues impacting their choices and retirement planning. Members are also able to view their personal details online.
Timeous response to markets - Daily switching between investment channels and daily pricing gives members the opportunity to timeously respond to changes in the investment markets (as long as there is no switch in process and the underlying fund's rules allow it).
Online data validations - online data validations via an electronic data exchange interface, in partnership with the employer payroll, facilitate the agreement of the data used in the administration of member retirement savings. Data quality is maintained through daily bank and investment reconciliations and monthly member account reconciliations.
Fund audits - Funds will be audited but can operate either on a valued or valuation exempt basis.
Surety arrangements supported - Trustees can elect to switch the value of liens to a secure investment channel.
Defined services for trustees - Mosaic Member Choice offers a set of defined services from which the trustees of a fund may select depending on the needs of the fund and its members. Flexibility is provided with respect to the frequency with which the service is used by the fund.
Active Participation - The self drive option
This option is for members who prefer to manage their own investments. The retirement funding contributions paid by and in respect of the member to the fund are invested according to the member's investment elections. Members can choose one or more investments from the range offered by the fund and are able to switch daily between various options if required. This is as long as there is no switch in process and the underlying fund's rules allow it.
Passive Participation - The chauffeur-driven option
Many members do not feel comfortable accepting the onus for investment decisions. The trustees can offer a Life Stage Model which to alleviate this problem. The option allows the member to move through an investment path based on age bands aimed at ensuring that his/her most age-appropriate investment profile with regard to risk and return, is achieved without the member having to make the decision to initiate an online switch.