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TRANSNET RETIREMENT FUND MARCH 2012 RESULTS Presentation to the Audit Committee 5 July 2012 PowerPoint Presentation
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TRANSNET RETIREMENT FUND MARCH 2012 RESULTS Presentation to the Audit Committee 5 July 2012 - PowerPoint PPT Presentation


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TRANSNET RETIREMENT FUND MARCH 2012 RESULTS Presentation to the Audit Committee 5 July 2012. Contents of presentation. Overview Membership Income - Contributions - Investment income - GLA and PHI Expenses - Benefits & Transfers - Administration - Investment Reserves

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Presentation Transcript
contents of presentation
Contents of presentation

Overview

Membership

Income

- Contributions

- Investment income

- GLA and PHI

Expenses

- Benefits & Transfers

- Administration

- Investment

Reserves

Assets and Liabilities

salient features
MEMBERS’ ACCOUNT

Mar 2012 R38,415 m  R2,8bn

Mar 2011 R35,608 m  R2,9bn

Member account up7.9% (Mar 2011: up 8.8%)

RESERVES

Mar 2012 R454 m  R113m

Mar 2011 R341 m  R62m

Reserve account up 33.1% (Mar 2011: up 22.2%)

Salient features
salient features1
Salient features
  • INVESTMENTS
    • Mar 2012 R37,850 m R2,8bn
    • Mar 2011 R35,040 m R2,9bn
    • Investments up 8.0% (Mar 2011: up 8.9%)
  • MEMBERSHIP
    • Mar 2012 62,3262,012 members
    • Mar 2011 60,314  1,647 members
    • Membership up by 3.3% (March 2011: 2.8%)
  • TRANSFERS AND BENEFITSNo. ExitsAvg./Exit
    • Mar 2012 R 2,965 m 2,798 members R1,060m
    • Mar 2011 R 2,670 m 2,669 members R1,000m
slide5

Overview of results

INVESTMENT PORTFOLIO RETURNS

changes in membership
Changes in membership
  • Membership @ 62 326 reflect increase of 3.3%
  • (2,012 members)
slide7

Changes in membership

  • Increase in membership of 2,012 (3.3%) is primarily due to:
  • adjustments 28 23.9%
  • new members  460 10.2%
  • transfers in 37 -56.1%
  • withdrawals 93 7.9%
  • retrenchments  39 -79.6%
  • retirements 92 9.14%
changes in net assets and funds
Changes in net assets and funds
  • Total contributions & investment income R288m (R6,5bn – R6,2bn) - 4.6%
  • Total expenses  R9.8m (R633m – R623m) - 1.6%
  • Total transfers and benefits  R295m (R2,9bn – R2,7bn) - 11.0%
  • Net income after transfers and benefits  R17m - 0.57%
contributions received and accrued
Contributions received and accrued
  • Contributions at 12.5% due to:
  • increase in salaries – avg. Transnet junior staff 8.5%
  • increase in new membership by 460 ( 4981 vs. 4521)
investment income
Investment income
  • Investment income (gross)  R1,0m 0.03%
  • Inflation:
  • March 2012: 5.96%
  • March 2011: 4.14%
  • March 2010: 5.11%
  • March 2009: 9.88%
slide11

Group Life Assurance & Permanent Health insurance

  • Amounts in respect of reinsurance
  • GLA proceeds comprise notified death cases
  • PHI proceeds comprise cases that the insurer agrees to pay
  • GLA premium  2.3% (March 2011:  39.0%)
  • PHI premium  6.9% (March 2011:  2.5%)
slide13

Transfers and benefits

  • Total transfers and benefits  296m 11.1% (R2,965bn - R 2,669bn)
  • Benefits  R612m9.2%(R3,002bn - R 2,748bn)
  • Transfers from other funds: 29 members (March 2011: 66 members) – average benefits accrued R1,261m (March 2011: R1,212m)
  • Transfers to other funds represents interest income accrued for transfers raised in the previous financial year