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

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

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  1. TRANSNET RETIREMENT FUND MARCH 2012 RESULTS Presentation to the Audit Committee5 July 2012

  2. Contents of presentation Overview Membership Income - Contributions - Investment income - GLA and PHI Expenses - Benefits & Transfers - Administration - Investment Reserves Assets and Liabilities

  3. 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

  4. 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

  5. Overview of results INVESTMENT PORTFOLIO RETURNS

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

  7. 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%

  8. 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%

  9. 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)

  10. 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%

  11. 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%)

  12. Administration & Investment Expenses

  13. 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

  14. Benefits

  15. Balance sheet

  16. Reserves

  17. Reserves

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