Fairheads

This section outlines the most important information about your benefits in the Fund, and the best way to arrange for payments.

Basically, a member account is opened when a death benefit payment is transferred into this beneficiary fund. The aim is to make this money in the member’s account last until the beneficiary turns 18 and preferably finishes Grade 12.

1.    A death benefit is transferred into your member account.

2.   The money in your member account is invested and any investment returns are added to you        account.

3.   Your member account is carefully monitored and managed so that it can last as long as        necessary. That is why not all claims that you ask for, are paid.

4.   Various payments can be made from the member's account.

5.   Regular payments can be made from the member's account every month, to pay towards       general, day-to-day costs.

6.    Special financial assistance payments can be made on request, to pay towards specific cost        such as school fees, uniform, books, stationery, transport, etc.

7.    Fees are charged to administer the money in the member account, and for each transaction

How should I request a financial assistance payment?

If you want to request financial assistance outside of the regular payments, remember that –
• you will need to submit documents to support your request to the beneficiary fund;
• you must clearly show your address and contact number (if applicable);
  your unique reference number shown on the member statement must be written on the request;
• you must SIGN the request.

WARNING: Keep in mind that large financial assistance payments may result in a decrease in your regular payments.

Educational Costs

If you want to request money specifically for educational purposes, you will need to submit:

- banking account details
- telephone and fax numbers
- email address
- name of a contact person at the tertiary institution  
- Detailed quotations for school uniforms, stationery and textbooks, clearly indicating each item   and its price and for which member it is required.
 

• An invoice / statement / letter from the school, college or university on its letterhead or containing its stamp, showing the institution’s registration number and all the following:

- Member’s name
- Grade / course for which member is enrolled
- Detailed breakdown of fees payable

• The member’s results for the previous year
   
• The following information about the school, college or university -
• In the case of tertiary studies, the length of the course that the member wants to study. Make sure that we have your valid banking details and an original certified copy of your identity document on our records.
   

VERY IMPORTANT: These requests should be submitted at least 1 month before the expected payment date, to ensure that payment is made by the due date.