Beneficiary fund can secure your kid’s future

Published in Personal Finance, 11 June 2016. By David Hurford, Director, Marketing & Consulting, Fairheads Benefit Services Read it here  or as reproduced below.  Beneficiary fund can secure your kid’s future The government introduced beneficiary funds in 2009 to provide a safe vehicle to accept lump-sum death benefits allocated by retirement funds to the minor dependants of deceased fund members. Your …

Fairheads on issue of fraud

Beneficiary fraud a headache for trustees

Published in Personal Finance, 26 March 2016. By Lorraine Kearney. Read it here Beneficiary fraud a headache for trustees “We use multi-factoral authentification, but no steps are foolproof. Ultimately, more layers will be added to the process – as syndicates become aware of a new layer and how to defraud it, we need to add another one.” David Hurford, Director, Marketing …

Why not reform for kids too?

Published on EBnet, February 2016 By Olefile Moea, Director, Fairheads Benefit Services In line with industry trend and also #FeesMustFall At a time when retirement reform is moving in the direction of annuitisation for adult retirement fund members, we find it strange that no-one is giving thought to those at the other end of the age spectrum – minor children …

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 …