The Alexander
Forbes Trust
The fund
- Has been managing sub-trusts since 1990.
- Manages millions in assets for thousands of beneficiaries.
Beneficiaries are the dependants or nominees of deceased employees or retirement fund members who are entitled to death benefits.
The beneficiary can either be:
- MINOR – under the age of 18
- MAJOR – over the age of 18
Why choose the fund
With our beneficiary fund, you’ll get:
- Cost-effective, efficient and practical solutions for distributing death benefits to beneficiaries.
- A professional board of trustees who run the fund according to the rules and in the beneficiaries’ best interests.
- No fee differentiation.
- Economies of scale – lower costs because of our size.
- An individually managed sub-trust.
- Regular communication.
- Benefits for Beneficiaries: a digital shopping mall for valuable savings and discounts on everyday products.
AF Rewards gives our members valuable discounts on day-to-day goods
This digital shopping mall offers members valuable savings and discounts on everyday products and services. The benefit partners and discounts are updated monthly for a truly dynamic and exciting online shopping experience. One platform, leading brand names, multiple benefits. There is something for everyone and there is no subscription fee.
This is what members get:
- Supermarket coupons (Shoprite, Checkers, Checkers Hyper and Pick n Pay): save on day-to-day necessities with exclusive prices from leading retail chains.
- Wellness coupons (Dis-Chem): stay healthy and save the next time you shop for health and wellness products.
- Travel deals (Randgo): expert agents guiding you to find holiday and travel solutions.
- Airtime deals (Vodacom, Virgin Mobile, Telkom Mobile, Cell C and MTN): access to discounts on airtime and data from South Africa’s leading providers.
More information on the rewards programme.
The trustees of the fund collectively have over 100 years of industry experience. They make sure that the fund meets all its financial and legal commitments. Each trustee has an area of expertise to add value to the management of the fund.
The trustees formally meet four times a year to review the legal, benefit, financial and governance framework of the fund. An annual investment workshop is also held to review the investment framework and consider new developments in the investment industry applicable to retirement funds. Sub-committee meetings are in place to deal with the day-to-day running of the fund.
The fund is managed by a board of six trustees made up of:
- Three external trustees appointed by the board
- Three internal trustees appointed by the sponsor–Alexander Forbes Financial Services (Pty) Ltd
Ayanda Shabalala
Internal trustee
LLB
Admitted Attorney of the High Court of South Africa
With over 8 years of experience in the industry
Dolana Conco
Internal trustee
Bcom degree in Economics and Postgraduate Diploma in Financial planning, CFP
Over 23 years of experience in the industry
Kevin Prinsloo
Chairman
MBA
Executive-level expertise and experience, including retirement funds, related financial services, and healthcare industries. Over 13 years’ experience in beneficiary Funds.
Nazreen Fakir
Internal trustee
Bcom degree in Accounting, MBA Qualified Chartered Accountant Over 16 years of experience in the industry
Reuven Coenen
External trustee
Previously, a Principal Consultant specialising in employee benefits, risk broking and investment advice.
Over 26 years of experience in the industry.
Over 13 years’ experience in beneficiary Funds.
Currently sits on various retirement fund boards as an independent trustee and Principal Officer.
Sandile Khumalo
External trustee
LLB, LLM (International Business Law)
Over 20 years of experience as an advocate of the High Court of South Africa Over 13 years of experience in beneficiary Funds