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Risk benefits and expenses deductions
south africa
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14 April 2020 | Insight
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Expenses deducted for risk benefits and administration costs
The net contribution allocated to retirement savings is more important than the gross contribution. The net contribution is affected by the deductions for insured death, disability and other benefits, administration fees and other expenses. This table lists the average expenses as a percentage of salary for 2015, 2018 and 2019.
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Expenses by fund size
The graph shows the average expenses for small (0–500 members), medium (500–2 000 members) and large funds (2 000 and more members).
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Expenses by fund size 2018
This table summarises the expenses in each sector as a percentage of pensionable salary for 2018.
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Expenses by fund size 2019
This table summarises the expenses in each sector as a percentage of pensionable salary for 2019.
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Insured death benefits
This graph shows the average death benefit insured through the fund as a multiple of salary. Most members are not entitled to receive any insured death benefit. It may be that these members are covered by employer-owned policies outside the fund.
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Average insured death benefit offered in each sector
The insured death benefit as a multiple of salary varies between the different sectors.
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