Renée Bonorchis
6 August 2007
Johannesburg — TRUSTEES who manage trillions of rands in South African pension funds would be aided in their task by means of a new database, joint venture partners said on Friday.
The partners are Today's Trustee magazine and Liberty Group's educational foundation. Only a quarter of the 40000 pension fund trustees are connected to the existing database of Today's Trustee.
That database will be developed and maintained as a vehicle "not only to reach the maximum possible number of trustees but also to help in the provision and understanding of their needs," the joint venture partners said .
Allan Greenblo, editorial director of the two-year-old magazine for the retirement industry, would not say how much Liberty had invested in the project, but did say that it was enough to capitalise the magazine fully, and that editorial independence would be retained.
"The joint venture's main purpose is to enhance the opportunities for skills training and education of trustees, who are pivotal in the control of almost R3-trillion in national savings, Greenblo said.
From the Liberty Life side, the initiative is being led by Audrey Mothupi, head of human resources and corporate affairs for the group. She has previously worked with the SABC.
"As with other activities of the foundation, participation need not be confined to Liberty alone," Mothupi said.
Liberty runs the Mindset and Learning Channel television programmes. The content of Today's Trustee can be disseminated through a range of media in order to reach the widest possible group of people.
Greenblo said a call centre with six staff had already been set up. Their job was to track down the rest of the trustees in SA and maintain the database. He hoped there would be 16000 names on the list by year-end and up to 25000 by June next year.
This vehicle will be more than a database for the bimonthly magazine. The Financial Services Board and industry players will , for a fee, be allowed access to the lists for educational projects. This accords with the financial sector charter, which demands that all industry players participate in the financial education of citizens and the promotion of shareholder activism.
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