Retirement fund trustees, in discerning how best to allocate section 37C death benefits to the financial dependants of deceased retirement fund members, rightly look principally at the needs of minors. If the trustees are of the opinion that the guardian or...
Umbrella trusts and beneficiary funds house the assets left to minor dependents; the source of the assets can be retirement fund death benefits in the case of beneficiary funds or testamentary and other non-retirement fund payouts in the case of trusts....
I am often amazed at the assumptions people make about how the financial needs of their minor children will be cared for in the event of their death. The treatment of financial benefits varies depending on the type of benefit. In this article we touch on two...
Almost a quarter of South African households say their access to food is insufficient, according to new statistics released in late May 2024. Statistics SA's General Household Survey found that 23.1% of households considered their access to food inadequate or...
A recent and interesting industry trend is that of death benefits being placed into beneficiary funds for elderly parents of deceased retirement fund members. This is notable because beneficiary funds have since their inception been primarily seen as a...
David Hurford, Chief Executive OfficerFairheads Benefit Services Beneficiary funds – supporting the guardian or caregiver rather than disempowering themThe Office of the Pension Funds Adjudicator (PFA) has recently highlighted that a Board of Trustees must have cogent...