Fairheads Umbrella Beneficiary Fund
Fairheads Umbrella Beneficiary Fund is one of only two beneficiary funds with more than R1 billion in assets under management.
What is the Fairheads Umbrella Beneficiary Fund?
Fairheads Umbrella Beneficiary Fund is registered with the Financial Sector Conduct Authority as a pension fund organisation.
The fund operates as an umbrella arrangement catering for individual accounts for each member, providing a legal vehicle that ensures benefits are conservatively and professionally invested and managed on their behalf. The fund’s investments are required to operate in terms of Regulation 28 of the Pension Funds Act.
Fully managed and monitored
Fully managed and monitored account by independent trustees.
Member Benefit Statement
Annual member benefit statement sent at the end of February each year.
Constant Support
Constant support and hand on care from Fairheads services.
Member Account
How it works
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 member turns 18 and preferably finishes Grade 12.
Inflow
Death Benefit
Investments & Returns
Fully managed and monitored
Outflow
Charges
Various Payments
Various payments can be made from
the member’s account.
Regular payments
Financial Assistance
Special financial assistance payments can be made on request, to pay towards
specific costs such as school fees, uniform, books, stationery, transport, etc.
Fairheads Benefit Services (Pty) Ltd is the Administrator of the Fund.