Annual reports
2022-2023
This year’s LA Retirement Fund Annual Report for the period ending 30 June 2023 provides details of the ongoing excellent Fund management through the out performance of the Risk Profiled Investment Solutions, stable governance mechanisms and cost curtailment.
Fund members, retirees and pensioners can remain confident that the Fund continues to achieve its commitments to them to provide the best possible retirement outcome and to be a trusted financial and investment partner.
We have provided information of some changes that Fund members can look forward to in the coming months.
Our focus for 2024 will be on the two-pot system and especially on the importance of saving for retirement. More information will be sent out in this regard.
Below are the links to the Fund’s 2022/23 Annual Report, which we trust you will enjoy reading.
The Fund has also summarised certain sections of the Annual Report which can be found in the Infographic Summary linked below.
2022 – 2023 Annual Report English
2022 – 2023 Annual Report Afrikaans
2022 – 2023 Annual Report Summary English
2022 – 2023 Annual Report Summary Afrikaans
The LA Retirement Fund has repeatedly proven itself to be a trusted partner to local authority employees who want to achieve the best possible retirement outcomes. This year’s LA Retirement Fund annual report continues to give the members, retirees, and pensioners the confidence that despite the difficult market environment during the period under review, the Fund has continued to deliver consistent Fund returns. The Fund has successfully chartered unknown territory during the 2 years of the Covid-19 pandemic and the last year of a tough market environment to provide members and retirees with an overall positive return on their Fund value and has ensured that pensioners were able to receive a pension increase in line with the pension increase policy as well as a 100% bonus. With results such as these, members, retirees, and pensioners can sleep well at night, having the confidence that their retirement fund continues to look after them.
The LA Retirement Fund has repeatedly proven itself to be a trusted partner to local authority employees who want to achieve the best possible retirement outcomes. This year’s LA Retirement Fund annual report serves to reassure Fund members that the Fund has remained resilient through the last 2 years of the pandemic and has delivered excellent investment returns for the period under review. Members can have confidence in knowing that the LA Retirement Fund continues to show its competence in the way it has managed to grow the Fund’s assets to ensure the members remain on the retirement journey to achieve their retirement goals.
Read More 2020-2021 Annual Report English | Afrikaans
Read more 2020– 2021 Annual Report Summary English | Afrikaans
In these uncertain times, retirement fund members require the assurance that their funds are the solid and dependable partners they need to keep their retirement goals and dreams on track. The theme for the 2019/2020 LA Retirement Fund annual report provides members with the assurance that the fund has the experience, flexibility, practical expertise and world-class professionals needed to adapt to the changing and volatile global financial landscape, and ensure that the stay firmly on the retirement journey they have mapped out in order to achieve the future they want.
Read more 2019– 2020 Annual Report English | Afrikaans
Read more 2019– 2020 Annual Report Summary English | Afrikaans
The theme of this 2018/19 LA Retirement Fund annual report is “Helping you build your better future”. The main aim of any retirement Fund is to help its members achieve the best possible retirement. At the LA Retirement Fund, we don’t consider this an objective, we see it as a promise. One we make to every member of our Fund, and that we work tirelessly towards delivering. To this end, every member of our Fund has access to all the essential building blocks they need to create the futures they desire, and deserve.
Read more 2018- 2019 Annual Report English | Afrikaans
Read more 2018– 2019 Annual Report Summary English | Afrikaans
The theme of this 2017/18 LA Retirement Fund annual report is “Your retirement journey”. As we continue on our journey towards fully integrated reporting, this year’s theme speaks to the commitment by the Fund to being a trusted partner, on whom members can depend to walk with them on their journey to retirement and beyond – ultimately ensuring that members reach their desired destination fully prepared for the retirement they deserve.
Read more 2017– 2018 Annual Report English | Afrikaans
Read more 2017– 2018 Annual Report Summary English | Afrikaans
This 2016/17 LA Retirement Fund annual report continues the integrated reporting journey started in our previous reporting period (2015/2016). While we recognise that there is still work to be done in terms of achieving fully integrated reporting standards, we have attempted to move this year’s report closer to this destination. In addition, this 2016/17 report reflects the concerted efforts of the LA Retirement Fund to align the Fund’s mission, practices and protocols with the world class governance standards set out in the King IV Report on Corporate Governance for South Africa.
2015/16 was a period of positive changes in which the LA Retirement Fund continued to evolve towards greater excellence by introducing innovative and cost effective benefits. We continued to build stakeholder relationships, remaining ready and compliant with retirement reform proposals and continuing to focus on reducing costs and maximising investment performance. Our focus remains on ensuring members have the best possible chance of achieving their desired retirement outcomes.
Read more 2015 – 2016 Annual Report English | Afrikaans
Read more 2015 – 2016 Annual Report Summary English | Afrikaans
Our investments underlying the fund’s life stage investment strategy have performed well considering the incredibly volatile investment markets in which we operate and our liability driven investment (LDI) strategy underpinning the pensioner’s portfolio has achieved exactly what was intended. Whilst the returns earned on the accumulation phase over the 12 months seemed pedestrian at 7%, overall, the defined contribution returns for the 12 months ended 30 June 2015 exceeded its target of 10.8% (i.e. CPI + 6%) to return a total of 11.4%. The total accumulated defined contribution returns over the last 2 and 3 years ending 30 June 2015 exceeded the targets by 5.7% and 14.9% by achieving 31% and 55.1% respectively.
Despite highly uncertain market conditions, the fund had a very good year in terms of investment returns for the 2013/2014 year. The defined contribution section of the fund achieved an excellent investment return of 17.54% for the period 1 July 2013 to 30 June 2014, exceeding the target by 4.50%. The defined benefit section of the fund returned 18.91% over the same period exceeding the target by 8.02%.
I am delighted to report that the fund managed to achieve all of our set goals during the past financial year. The board of trustees, with support from our principal officer and service providers, were very successful in addressing various challenges over the year. The most significant achievement was the performance of our investments over this period.
