death benefits
In the context of one’s estate plan, note that once the trustees have made their determination, the proceeds will be paid directly to the beneficiaries and/or nominees and, as such, these assets fall outside of the deceased estate and are
Future dependants would include those people whom the deceased member did not financially maintain or support at the time of his death but who would have been maintained if he was still alive. Future dependants could therefore include unborn children
If the member had no financial dependants at the time of death but had made beneficiary nominations, the trustees must first determine whether the member’s deceased estate is solvent. If not, then the death benefit – or a portion thereof
As draw-downs from a living annuity are limited to between 2.5% and 17.5% of the value of the investment per year, many investors use the one-third withdrawal option strategically to ensure that they don’t run into cashflow problems later in
Upon the death of the member, the RA fund trustees are required to undertake an investigation to identify the dependants and nominees of the deceased, decide on an equitable distribution amongst those identified, and determine how the payment should be
If you lose your job as a result of your employer ceasing operations or are made redundant as a result of general operational requirements, any lump sum from an occupational fund is regarded as a retrenchment benefit for tax purposes.
