Fairheads

Fairheads Benefit Services prides itself on high standards of governance. In many instances, it has led the way for the industry. The following are some of the basic reassurances we can give our clients.

• We are an authorised financial services provider (FSP number 18428)
• We are licensed as a section 13B administrator in terms of the Pension Funds Act
• All beneficiary funds and umbrella trusts are subjected to an annual audit by independent auditors. The latest financial statements are available to our clients.
• Both The Fairfund Umbrella Beneficiary Fund and The Fairfund Trust have independent professional trustee representation.
• We carry sufficient professional indemnity and directors’ and officers’ liability cover.
• The relationship between trustee and administrator is governed by an administration agreement.
• A service level standard between the retirement fund and the fund administrator determines the expected service level.
• The beneficiary and trust fund boards of trustees appoint independent asset managers and independent asset consultants.
• An investment policy statement per beneficiary and trust fund approved by the board.
• We have an internal audit, risk and compliance committee. There is a risk management policy in place and a compliance report is submitted to the Financial Services Board annually.
• We have a superior information technology platform and a comprehensive disaster recovery plan.
• We have a complaints resolution policy which complies with FAIS legislation and pension fund legislation.

Contact our compliance officer, Darlene Stoffels