FOR BENEFIT CONSULTANT
FREQUENTLY ASKED QUESTIONS

Simple, easy to use, independent, technology driven, with a focus on the member and how we can help you as a benefit consultant to change the game with your clients. Ask us how.

Get in touch with us – let us help you change the game for your client and their members.

  • Preparing Rules and Special Rules and the revision of these Rules
  • Submission to the authorities (Financial Sector Conduct Authority – “FSCA”)
  • Drafting and submission of Section 14 documents in terms of the Pension Funds Act
  • Interaction with the FSCA on any queries, concerns or questions raised on the submission of these documents
  • Resolve Umbra related queries and provide clarity on our service agreements if required
  • Assisting members to use the online facilities/member portal on the Umbra Fund
  • Working with the administration team to bring assist the benefit consultant
  • Understanding our benefit consultants

The Umbra Funds have the following independently appointed Service Providers after due diligence was performed:



The Umbra open platform further provides our benefit consultants with the following choice on the insured risk providers and investment managers:

The list above is provided to show the benefit consultant all the providers we have available on the Fund.

Approved or unapproved are allowed, with a mandate in place with the provider.

The Umbra Funds provide for numerous options under Investments, together with the default strategies selected by the Board of Trustees.

At Umbra we look at providing choice, and if the Employer meets the criteria, we can look at any of the below options:

  • An ongoing administration fee
  • An ongoing administration fee with a percentage fee of assets under management; or
  • An ongoing asset under management fee.
Ask us to find out more how we can create a sustainable fee for you.

Get in touch with us at Umbra, by sending us a quotation request on quotations@umbra.co.za. When getting in touch for a quotation, you need to provide us with the following important information:

  • Number of members on the Fund;
  • Current value of assets (where applicable);
  • Annual Salary information;
  • Different categories and contribution rates;
  • Breakdown of the insured risk premium:
    1. Inclusive of the costs on the Fund; or
    2. Exclusive of the costs on the Fund.
  • Providing a breakdown of all fees on the Fund, including the investment fee;
  • Confirmation of any asset-based fees being charged.

A benefit consultant can select between two options for calculating of fees:

  1. A payroll based consulting fee – subject to the ASISA scale noted below:
    ASISA Scale (VAT Excluded)
    Percentage Charged
    R0 – R200 000
    7.5%
    R200 001 – R300 000
    5.0%
    R300 001 – R600 000
    3.0%
    R600 001 – R2 000 000
    2.0%
    R2 000 001 upwards
    1.0%
  2. Or an asset-based consulting fee, capped at 0.5% of the retirement savings.

    Fees are paid monthly.

Currently the Umbra Funds make provision for the following two default investment strategies:



And the difference between the two strategies above is described below:



Further our default Investment Strategies are based on a Life-Stage strategy noted below:

Fund Investment Strategy:

The system web-portal is made available to the benefit consultant, which will assist the benefit consultant to help members.

Further the Ovation tool will assist the Employer, member and benefit consultant to make more informed decision and guide them to successful retirement.

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