Why umbrella funds are becoming so popular with Astrid Ludin and Michelle Acton

The number of registered retirement funds in South Africa has collapsed from almost 16 000 in 2000 to fewer than 5000 in 2023. Currently, only around 870 of the registered funds are active. For companies, this is a chance to fundamentally redesign employee benefits to help deliver substantially better financial outcomes for their people.

The Big Business Insights podcast, hosted by Blessing Utete, the Commercial Executive Head at Old Mutual Corporate, looks at lessons to apply to consolidation from further afield, and asks how employers can – and should – shape their benefits package and give their members the best possible chance at a secure retirement.

Joining the discussion is Astrid Ludin, Deputy Commissioner at the Financial Sector Conduct Authority, with 15 years of experience in consumer protection, financial regulation, inclusion and education. The other guest is Michelle Acton, Chief Customer Officer at Old Mutual Corporate, whose work involves research and insights, customer engagement, education, data and reporting. Prior to this, she successfully led the Two-Pot programme across the Old Mutual Group.

Listen to discover the myths and truths about umbrella funds, how technology can personalise an employee benefits experience, and the consolidation lessons we can learn from other countries. All of this to achieve our collective goal: giving members the best possible chance at a secure retirement.