The Unilever SA Pension Fund is a self-administered Fund which consists of a Defined Contribution and a closed Defined Benefit section.

Established 1 Jan 1936

The Defined Contribution plan specifies the level of contribution by member and employer. The monthly pension is not defined, but depends on the pension contributions and investment returns in the Fund. The DC Fund started in 1996. Most of the current employees are part of the DC Fund.
The Defined Benefit scheme defines the monthly pension on retirement. The monthly pension is calculated using the employee’s pensionable salary, service and age at retirement. This DB plan has been closed for new employees since 1996.

Defined Contribution Mission

TO PROVIDE:
Defined Contribution retirement benefits in line with contributions, service and age at retirement
Pre-retirement death and disability benefits

IN ORDER TO ACHIEVE WE WILL MAINTAIN:
A range of investment options for members to select to tailor their investment strategy to their own particular needs
An appropriate default investment strategy for members who rely on the Trustees to make such decisions for them.
Options for retiring members, an appropriate default solution at a life annuity drawdown rate that targets pension increases close to inflation

Defined Benefit Mission

TO PROVIDE:

  • Defined benefits in line with service, age and salary in terms of Fund rules.
  • Pension increases in line with inflation at no additional cost to the employer.

IN ORDER TO ACHIEVE WE WILL MAINTAIN:

  • A funding level that provides a high degree of certainty of paying these benefits without recourse to the employer.
  • An investment strategy that increases the certainty of the Funding level being able to pay the benefits without recourse to the employer.
Meet The Team Video
Board of Trustees

Ms S Davidson
Independent Employer
Appointed

Mr DK Druce

Mr ED Erasmus
Fund Chairperson

Ms TP Yarlett

Mr IN Sithole

Mr P Sasse

Active member elected trustees:

Mr A Balmakhun

Mr J Pelicias
Pensioner Trustee

Mr IA Fergusson
Pensioner Trustee

Mr JM Gcabashe

Mr MM Mokoena

Mr Y Pillay

Pensions Investment Commitee

Mr GJ Archibald
Fund Principal Officer

Mr DK Druce
PIC Chairperson

Mr ED Erasmus
Fund Chairperson

Mr IA Fergusson
Pensioner Appointed Trustee

Ms K Lancee
Univest Company

Mr M Walker
Univest Company