What happens in the event of a member’s death?

In line with section 37 of the Pension Funds Act, the trustees of the retirement fund will distribute the proceeds, considering first the needs of your dependants and then the beneficiaries listed in your nomination form. It is thus important to fill in and update your nomination form annually.

Your investment will be taxed on the same basis as on retirement. However, from 1 March 2015, contributions that were made to an RA fund that did not receive a tax deduction are included in the estate of the deceased and subject to estate duty.