Peace of Mind

What you will receive as a MEMBER from Tennant Life Benefits!

TLB functions on the basis of TRUST. All contributions are meticulously linked to the appropriate member. At every level our thorough processes ensure that every single member receives exactly what is due to them. We do not handle the investment of fund money; this is done by investment managers specifically selected by the Trustees of each fund. However, our sophisticated Cash Flow Management System ensures the correct movement of cash between the bank account and the selected investment products happens at appropriate times.

Member Benefits are available shortly after the receipt of contributions every month. Thus the member can request information related to this whenever required. If and when members exit the fund our system ensures the total accuracy of monies due.

Once per annum each fund is audited. Shortly thereafter, each member is given a full break down of their benefits on a Benefit Statement. This document is a comprehensive overview of the following:

  • SOF balances and contributions received for the period
  • Home loan balances and payments for the period
  • Investment performance for the fund overall or specific to the member’s choices
  • Insurance cover arranged for the fund and relevant values for the member
  • Information related to the success of your retirement based on current values


Tennant Life Benefits are committed to ensuring that where possible we will have an extremely positive impact on all our members’ retirement savings. Our motto “Taking care of tomorrow today” outlines our commitment to accomplish this. All members of all funds are encouraged to take this future event (retirement) very seriously. We provide a set of complementary products that will assist you to successfully increase your wealth for retirement. We want you to retire successfully.

Communication with members is an ongoing process.

What will you as an EMPLOYER will receive from Tennant Life Benefits?

Peace of mind!

We have put in place a carefully crafted computer system to ensure that at every stage of pension administration, the member’s information and values are protected and correct. Every month, after the contributions have been received and the investment returns established, we compare the General Ledger to the total Share of Funds of the members. This process together with a set of auditing tools, that we have developed, guarantees, that month by month member’s values are correct. By the time the yearly audit comes around we have verified these values 12 times. Auditors have specifically noted the accuracy and quality of our information.

Pension contributions can be uploaded directly into our system. Most payroll systems will allow for an electronic export file in a standard format that can be directly loaded into our system. A variety of reports give the HR departments information to verify the administration processes and the breakdown of member Share of Funds.

With regard to members who exit the fund, once we have received a signed copy of the exiting members requirements related to their benefits, we take over the communication process with the member and ensure that all relevant governmental statutes are adhered to. We obviously strongly recommend that members preserve their benefits for their successful retirement. Normally exits are paid out with 4-6 weeks of the receipt of exit documents.

Our motto “Taking care of tomorrow today” outlines our commitment to accomplish this. All members of all funds are encouraged to take this future event very seriously. We provide a set of complementary products that will assist them to successfully increase their wealth for retirement. We want the member’s to retire successfully.

What will you as a TRUSTEE will receive from Tennant Life Benefits?

Peace of mind!

For a trustee to make informed and relevant decisions on behalf of their fund they would need to have a clear understanding of the way the administrator operates. We at Tennant Life Benefits have spent considerable time crafting a methodology and system which ensures that trustees can access and validate the health and context of each of the funds that they oversee. Every month each trustee receives a TRUSTEE REPORT that contains a full picture of the action within the relevant month. Some of the details listed are:

  • All bank entries for the period are disclosed along with details of nature of the transactions;
  • Investment movements and balances;
  • Real Investment returns for 1 year, 3 years and since inception;
  • New and departing members are listed;
  • Members close to retirement;
  • Insurance policies in place;
  • Trustee cover details;
  • Current Trustee lists;
  • Contact numbers and email addresses of all associated players


The underlying purpose of Trustee Report is to invoke action from the relevant parties to the benefit of each Member and also the peace of mind of the Trustees and Employer. With this is mind there are various processes in place to support this action month by month.


Information must be up to date to be relevant. Tennant Life Benefits have adopted an almost fanatical compulsion to ensure that all pertinent information is up to date and thus relevant. As an example we start our yearly audits well within three months of the fund year-end. Beyond this we have written a tool that attempts to emulate the audit process. We run this audit tool every month and as a result are totally confident with the members Share of Fund values and that we can handle any curved balls that an administrator may face. We have an ongoing process of evaluation to raise our standards and ensure the success of each and every fund. Our motto “Taking care of tomorrow today” outlines our commitment to accomplish the successful retirement of each member. All members of all funds are encouraged to take this future event (retirement) very seriously.

Questions Employers and Trustees should ask:

When selecting a Pension Administrator, Employers as well as Trustees should ask some of the following questions:

  • Is the administrator running a viable business? With the recent demise of Glenrand much of the data that is required to establish member’s values been lost or very difficult to btain. The members have thus been dramatically compromised;
  • Is the administrator suitably financed? The FSB has in the past specifically addressed the problems related to liquidity. In the PENSION FUNDS ACT 24 OF 1956 under section 7.3 the following statement is made “An administrator shall at any time maintain liquid assets equal to or greater than 8/52 of annual expenditure.” The employer may want to request that the administrator furnish proof of this position;
  • Are the financials up to date? If at any stage, the financial statements are behind; exiting members may very well receive higher or lower benefits and as a result comprise others or be compromised themselves. Tennant Life Benefits would welcome communication with the auditors who overseer our funds. In recent years we have spent considerable time to speed up the audit process to ensure that above does not happen within our funds;
  • Can the administrator pay exits within a reasonable period of time?
  • Can members request the roll up of their values from inception?
  • Can members get their Benefit Values shortly after contributions are sent to the administrator?