Your benefit in the Funds and an insured benefit will become payable to your dependants and nominees on your death. The Trustees of the Funds will consider your Expression of Wish Form and the requirements of the Pension Funds Act when paying your death benefit.
To make this process as easy as possible, the Trustees need as much information about all your dependants and nominees as you can provide.
What is an Expression of Wish Form?
The Expression of Wish Form is a form on which you indicate who your death benefit must be paid to.
Who are my beneficiaries?
Your beneficiaries can be divided into two groups:
| DEPENDANTS | Dependants include a spouse, life partner, children and anyone else who may be financially dependent on you. |
| NOMINEES | Nominees are beneficiaries who are not financially dependent on you. |
How will my benefit be distributed?
- Section 37C of the Pension Funds Act and the rules of the Funds state that in the event of your death, your benefit in the Funds should be distributed as follows:
- To dependants; or
- Dependants and nominees; or
- If there are no dependants, to nominees; (but any deficit in your estate first has to be settled); or
- If there are no dependants or nominees, to your estate.
Who do I list on my form?
The Trustees of the Funds have to ensure, by law that all your financial dependants are cared for, before any money is paid to nominees. Financial dependants include illegitimate, adopted children, and spouses. When you have children or a spouse or have people who are financially dependent on you, their details should be written in the beneficiaries section on your Expression of Wish Form.
What happens if I have no dependants?
You still need to complete the Expression of Wish Form. You will therefore not list any dependants on the form, but only nominees.
How do I change my form?
Please click here to download the form. Please provide your completed form to your Payroll Administrator.
