AFRICA WORKS ON SOLVING ITS
ELECTRICITY DEFICIT.

While the African power sector faces many challenges, there are a number of reasons to be optimistic about the future.

AFRICA WORKS ON SOLVING ITS
ELECTRICITY DEFICIT.

While the African power sector faces many challenges, there are a number of reasons to be optimistic about the future.

HELPING IMIZAMO YETHU VICTIMS

The DARG Foundation thanks Prescient for monetry, food and clothing donations.

MULTI-ASSET INCOME FUNDS

A good alternative to money market funds.

TRUSTEES TO RE-EVALUATE THEIR
INVESTMENT MANDATES.

Medical Scheme trustees should re-evaluate their investment mandates.

 
PRODUCTS & SERVICES
RETIREMENT SOLUTIONS
UMBRELLA FUNDS


Prescient offers an affordable and tax efficient retirement savings solution in the form of an Umbrella Pension Fund and an Umbrella Provident Fund for medium-sized and even some larger companies who recognise the need for their employees to save for retirement but for cost reasons and perhaps because of a lack of expertise are reluctant to start their own retirement fund

An Umbrella Fund is a Pension or Provident Fund which is treated as single legal entity but allows numerous Participating Employers to join. Since the Umbrella Fund is one Fund, it has trustees who are appointed by Prescient (four internal trustees and one external trustee). As a Participating Employer, this means that you will not need to appoint any trustees and hence avoid the expense and time associated with trustee duties.

Participating Employers are able to set their own Special Rules which apply to their distinct sub-fund. The Special Rules govern aspects of the Fund which are specific to the employer such as employee contribution rates and risk benefits (e.g. group life cover, group disability cover). In this way, the Participating Employer is able to create their own tailored employer-branded Pension/Provident Fund within the Umbrella Fund.

Umbrella Pension and Umbrella Provident Fund contributions are tax deductible (within limits) either in the hands of the employee or the employer depending on how the contributions are structured. The Special Rules can be tailored to allow for only employee contributions, joint employee and employer contributions or salary sacrifice, hence allowing pre-tax capital growth for your employees.

Through the Umbrella Funds, your employees will gain access to our range of investment options which have been delivering consistent investment returns to our investors for years. The range of investment options will give them access to all the relevant asset classes to enable them to construct an appropriate risk-profiled portfolio. The Prescient Seamless Transition Offering is also available within the Umbrella Fund structure, allowing your employees a smooth and cost effective transition into retirement with the Prescient Living Annuity.

The Umbrella Funds are cost effective because of a fixed administration fee per member per month. This means that the administration costs do not increase as the assets under management increase.

If you would like to find out more about the Umbrella Funds please refer to our dedicated Umbrella Funds Brochures.