Forty years ago, Old Mutual made a bold decision that would impact the lives of many South Africans in the decades that followed: it launched the country’s first commercial umbrella fund. 

At the time, the pension fund industry was dominated by Defined Benefit Pension Funds and Defined Contribution Provident Funds, each established for a specific employer. For smaller employers, the cost of setting up these standalone funds was often prohibitive. SuperFund addressed this challenge by enabling multiple employers to share costs and resources. It also provided access to a professional board of trustees, strengthening governance at a time when regulatory requirements were becoming more rigorous. 

Over the four decades since its launch, SuperFund has continued to evolve, consistently placing members’ financial outcomes at its centre. In 2007, it appointed an independent board and Principal Officer, and its pioneering guaranteed fund became more future-fit, combining capital protection with inflation-beating investment returns.

More recently, in preparation for the implementation of the Two-Pot Retirement System, SuperFund introduced a WhatsApp Journey and a chatbot to make accessing information easier and more convenient for members.  

“Everything we do is aimed at improving members’ financial outcomes,” says Monique Cloete, Head of Group Retirement Solutions at Old Mutual. 

Watch this video to learn more.