Published in IRF.INITY, 1 June 2015 By Giselle Gould, Business Development Director, Fairheads Benefit Services In terms of section 37C of the Pension Funds Act, the trustees of retirement funds have four options when deciding how to allocate benefits due to minor dependants/nominees who have lost a breadwinner. They can pay a lump sum benefit to the guardian; retain and …
27 May 2015 Retirement fund trustees have a fiduciary duty when paying out death benefits. Even if guardians are financially competent, trustees should ask four key questions before making a decision, says Giselle Gould, Fairheads’ Business Development Director.
- Page 2 of 2