• RFS

    Retirement Fund Solutions

  • Benchmark

    Benchmark Retirement Fund

  • Early Bird 2019-11

    The Early Bird fund performance indicators for November 2019 have been released. To get an early feel for what to expect of the month in terms of returns on your pension investment, the market lost 1.91% (Allshare Index ex div), ranging between -10.22% (Industrials) and 8.21% (Health Care). The Rand strengthened by 3.00 % to the US$. Typical prudential managed pension portfolios returned between 1.256% (Coronation Balanced Plus Fund) and -1.133% (Stanlib Balanced Fund) after fees.

  • Quarterly reports 2019 Q3

  • Benchtest 2019-10

    In October 2019 the average prudential balanced portfolio returned 1.6% (September 2019: 1.3%). Top performer is Momentum Namibia Growth Fund with 2.2%, while Investec with 1.2% takes the bottom spot. For the 3-month period, Allan Gray Namibia Balanced Fund takes top spot, outperforming the ‘average’ by roughly 1.2%. On the other end of the scale Stanlib Managed Fund underperformed the ‘average’ by 1.2%. Note that these returns are before (gross of) asset management fees.

    The Monthly Review of Portfolio Performance to 31 October 2019 provides a full review of portfolio performances and other interesting analyses.

    Evaluating your investment managers and your investment portfolio

    When evaluating investment managers, the text books will tell you that you should consider the 6 P’s:-

    • the people responsible for managing the portfolio;
    • the philosophy applied in managing the portfolio;
    • the process followed in managing the portfolio;
    • the characteristics and composition of the product or products available for investment;
    • the price charged for managing the portfolio; and
    • the performance track record of the portfolio.

    Of these, only performance is an objective measure. All the other criteria are subjective and require the person who evaluates them to apply his personal judgment in order to reach a conclusion. When one considers performance track record, every expert will tell you that you cannot place any value on this criterium as historic performance gives no reliable indication of future performance and this has been shown to be true by just about every piece of research that has ever been published on this topic, but it is the only measurable criterium. When you consider all the criteria, aren’t you also only looking at historic evidence in any event, even if it was obtained a minute ago – it is history when you look at it and there is no way you can be sure that what you have seen today will be the same you will see tomorrow, as long as you consider anything that involves people.

  • Unclaimed benefits

    A number of members of employer groups have unclaimed benefits in the Benchmark Retirement Fund. They were employees of African Business Investments, Agra Ltd, Brandberg Construction, Gondwana Group, Hartlief Corporation, Hollard Insurance Company of Namibia, Medfam Holdings, Namibia Engineering Corporation, Namibia Nature Foundation Trust, Plastic Packaging, Scania Namibia, Schoemans Office Systems, Tunacor Fisheries Limited, The Free Press of Namibia, Tyrepro Namibia and Wilderness Group. Members should please contact Retirement Fund Solutions’ offices on tel. 061 - 446 000 and present a valid Identification Document or valid Drivers License. If you know a person on this list, please inform her or him

  • Benchmark Actuarial Report 2018

  • Benchmark announces 2018 results to members

    In 2018 the local Benchmark Retirement Fund’s assets grew to N$2.920 billion, up from N$2.744 billion in 2017. Its membership grew to 11 548 members.

    Despite the challenging operating environment and the proliferation of regulatory requirements, the Fund continues to grow, with new participating employers joining the Fund as well as with a growing number of members preserving their retirement capital in the Fund or choosing to draw monthly pensions from the Fund.

    Read the full article here...

  • 2018 Benchmark Annual Report

  • 2018 Financial Highlights

    The Benchmark financial highlights for 2018 have been released and can be downloaded here.

  • Selecting asset managers to diversify risk

    Trustees mostly understand that it is a risk to engage a single manager to manage their fund’s assets within a single investment mandate. But do they understand what risk or risks they face and which one will be reduced through the appointment of more than one manager and what is the correct number of managers to use?


  • Fund membership must be a condition of employment

    We wish to draw the attention of employers who participate in the Benchmark Retirement Fund, to the fact that it is a requirement that all new employees joining the employer after the date the employer joined the fund, must be enrolled as members of the fund. This is not optional and employers affording new employees the choice whether or not to become a member are transgressing the rules, the agreement with the fund and the requirements of the Income Tax Act.

    Employers who engage in such practice firstly may find that the Receiver of Revenue cancels the tax approval of the employer’s pension fund. In terms of the Income Tax Act, membership of a fund must be obligatory in order for employee contributions being allowed as a deduction against the employee’s taxable income. Cancellation of tax approval will mean that the contributions that employees have made to the fund will be disallowed. In other words the employees that participate will be punished for the transgression by those the employer afforded the choice to join and who chose not to join.

    From the fund’s and the insurer’s perspective it is also important that membership is a condition of employment. This serves to ensure that the employees cannot apply anti-selection. In other words healthy employees are more likely not to join while those who know to have a health impediment are more likely to join. As the result the fund may end up with the poor risks undermining the principles of group underwriting. To protect the fund against such practices, the trustees have the powers to terminate membership of an employer.

  • Seven habits of financially healthy retirees

    Seven habits of financially healthy retirees

    Sanlam has provided a guide to the seven good habits of financially healthy retirees. How do you measure up? Click here for the bigger picture...

  • Why preserve your retirement capital?

    Why preserve your retirement capital?

    How you manage your pension fund when you resign will decide your wealth. You may withdraw it, but is that the best choice for your future?

  • Benchmark retirement capital preservation

    Benchmark retirement capital preservation

    When you change jobs, stop working or are retrenched and have to withdraw from the retirement fund you have been contributing to, you can preserve your fund credit in the Benchmark Retirement Fund.

    By transferring your fund credit to the Benchmark Retirement Fund you will preserve it for retirement and will be able to grow it with investment returns.

    Preserving your fund credit is imperative to ensure that you reach your retirement objectives and is a tax efficient way to exit your current retirement fund.

  • Benchmark living annuities

    Benchmark living annuities

    When reaching retirement age (depending on the rules of your current retirement fund), you can invest your fund credit in an investment linked living annuity in the Benchmark Retirement Fund to receive your monthly pension.

    You can join Benchmark Retirement Fund on retirement. You do not already have to be a member of the Fund at that stage.

    The monthly pension can be chosen by you, taking the requirements of the Income Tax Act into account. The monthly pension will be a function of the amount of capital available, the investment returns earned and the period for which you require a monthly pension.

Retirement Fund Solutions

Managed by Namibians. Trusted by Namibians.

Benchmark Retirement Fund

Efficient. Trusted. Namibian.

How much will you need when you retire and are you investing enough?
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