Retirement funds not geared to administering children’s benefits

 25 Aug 2015 Many large retirement funds have not yet appointed a beneficiary fund and choose to retain and administer minors’ benefits in the retirement fund itself. Giselle Gould, Fairheads’ Business Development Director explains why retirement funds are simply not designed to cater for the specialised, high-intensity administration of children’s benefits which require very specific asset allocation, communication and other. …

Olefile Moea Fairheads

Age 18 – Is it appropriate?

June 2015 By Olefile Moea, Consultant Following years of verbal engagement, a formal written submission was recently made to the Financial Services Board to amend pension fund legislation such that death benefit lump sums administered by beneficiary funds, umbrella trusts or retirement funds on behalf of minor dependants not be automatically paid out to such minors when they turn 18. The …