Death Benefit

On MEMBER death your beneficiaries will receive the following benefit:

• 2 times your annual pensionable salary plus (i.e. R36 000 if earning is R1 000), PLUS your Share of Fund Credit

• 4 times your annual pensionable salary plus (i.e. R48 000 if earning is R1 000), PLUS your Share of Fund Credit

• Investment return allocated by the Fund on the above contributions and transfer values.

Remember to complete the Beneficiary Nomination Form

You must regularly (at least once a year) complete or update the Nomination of Beneficiary form. Nomination of Beneficiary forms are circulated annually with benefit statements and can also be requested on the Fund’s website or through the administrators. The purpose of the Beneficiary Nomination Form is:

  1. To make it easier to trace dependants by contacting family  members using the contact details you have provided; and
  2. To speed up the process of assessing who your dependants are and the extent to which they were dependant on you.

Although the Trustees will follow wishes as requested on the beneficiary nomination form as far as possible, the final decision of who will receive the death benefits rests with the Trustees who must also consider any other dependants not nominated. The Pension Funds Act allows trustees up to 12 months to investigate and decide how death benefits will be distributed. If you do not have dependants, your benefit will go to your beneficiaries.