Distribution of Death Benefits

Module 1: Trustees' fiduciary duties - the basis for dealing with death benefits

This module focuses on the trustees' fiduciary duties and how these relate to the distribution of death benefits.

Module 2: Introducing Section 37C of the Pension Funds Act

This module provides the knowledge and understanding of what the objective of Section 37C, covering relevant extracts of the legislation.

Module 3: The distribution process - Step 1: Identify dependants and nominees

This module covers the legal definitions of the parties who the trustees must consider when distributing a fund death benefit.

Module 4: The distribution process - Step 2: Equitable allocation of the benefit

Once the trustees know who the parties are, they need to distribute the benefit fairly between the beneficiaries. This module will direct them on what to consider when making this allocation.

Module 5: The distribution process - Step 3: Payment of the benefit

This module unpacks the different ways that the trustees can pay the benefit to the identified beneficiaries, and when using a beneficiary fund is appropriate.

Module 6: Timing, advances, trustee discretion and risk management

These ancillary aspects of the process are considered to round out and complete the process.

Module 7: Important considerations and the Protection of Personal Information Act

Dealing with death claims in retirement funds requires a large amount of personal information of the beneficiaries. This module looks at how this information should be dealt with.

Module 8: Learnings from Adjudicator and court cases

This module covers the dependency and changing circumstances of dependents and goes through Adjudicator rulings and court cases in detail.