All active Members of the Fund are covered by this benefit provided contributions are up to date. .
Part of the money your employer contributes every month pays for this benefit.
The death benefit is equal to 3 x your annual fund salary/wages plus your retirement fund savings (fund credit)
The death benefit also includes Funeral benefits
Funeral Benefits are paid 48 hours after all documents are received.
The death benefit pays out to your dependants or beneficiaries if you die while an active member of the Fund.
Although the Trustees will try and follow the member’s wishes in terms of the beneficiary form as far as possible, the final decision of who will receive the death benefit rests with the Trustees. They are required in terms of the Pension Funds Act (Sec 37C), to ensure that all dependants are provided for.
If you exit the Fund you will no longer be covered by or be able to claim for the death benefit.
The amount that is paid out is 3 x Annual Wages / Salary
Download: Death Benefits