Benchmark Retirement Fund is changing its trustees. In terms of the Financial Institutions and Markets Bill, service providers to a fund can no longer serve as trustees to the Fund once the new Act is effective. Over time, trustees of the Benchmark Retirement Fund who are closely associated with the founder Retirement Fund Solutions (RFS), either as shareholders or employees will not serve on the board.

Günter Pfeifer, who is a shareholder and director of Retirement Fund Solutions, is the first trustee of Benchmark to vacate his position on the board for this reason. His resignation is effective 1 January 2021.

The process of introducing new trustees will be conducted gradually to ensure that the fund has continuity of service from trustees, and that new trustees have the necessary skills and fund governance experience.

The current independent trustees of Benchmark are Harald Müseler (Chairperson), Afra Schimming-Chase and Malverene Theron.

Günter Pfeifer will remain actively involved with Benchmark – as Director Operations, in terms of which he continues to be responsible for the administration and management of the Fund. In addition, RFS’ role as the appointed administrator of Benchmark Retirement Fund, RFS also provides advisory services to Benchmark. The principal advisory responsibility will also vest with Günter Pfeifer, with support from the other RFS directors.