26 November 2024
It is important to take note of the following specific arrangements over the festive season in terms of income payments, the distribution of quarterly statements and month-end dates.
Income payments
The public holidays during the festive season can impact on income payments and when clients receive their income. To accommodate the impact of public holidays, income payments with dates ranging from 20 December 2024 to 2 January 2025 will be paid no later than 20 December 2024. In cases where the income is paid only from Money Market funds, the income payment may be earlier than 20 December 2024.
This arrangement applies to all scheduled income payments from South African and Namibian products, except the FlexiGuarantee Life Annuity (FGLA).
Where an investment is issued (as New Business) in December 2024, with an income also scheduled for December, it may happen that the income from such a plan is paid later than 20 December 2024.
Quarterly statements
Statements for the period ending 30 November 2024 will be distributed to clients as follows:
Sanlam month-end date in December is earlier than in other months
Please take note that the Sanlam month-end date (also known as “Vervaltrek”) for December is earlier than for other months, which will affect the advice fee amount you’ll receive at the end of December.
All fees from plans where the fee recovery date is after 13 December 2024, will only be paid to you at the end of January 2025. Fee recovery dates on plans cannot be moved, and it is therefore important for you to be aware that your December advice fee may be lower than in other months. This is due to this fee period (22 November to 13 December 2024) being shorter than other monthly fee periods.
This earlier date will not affect weekly paid intermediaries.
Glacier will be closed from 12:00 on 24 & 31 December 2024
To grant our staff members a well-deserved break after a busy year, our Call Centre and Administration staff will finish their workday at 12:00 on 24 and 31 December 2024. This may affect transaction times. Please ensure that all urgent instructions, especially withdrawal instructions, are sent to us before 12:00 on the preceding days, 23 and 30 December, or make use of the online functionality on our website.
