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Options beneficiaries have at death on retirement products
 
By Sonia du Plessis  
When looking at retirement products, one needs to differentiate between “pre-retirement” and “post retirement” products, as their treatment and options are different in the event of the owner’s death. It is also important to know what taxes are involved when money gets transferred to the beneficiary.
“Pre-Retirement”
Sonia du Plessis
RA’s, Provident, Pension and preservation funds. The value of the investment is excluded from the estate of the deceased.
On death prior to retirement the fund will be paid to the nominated beneficiaries (subject to Section 37C of the Pensions Fund Act) or to your estate. This is vitally important in that under S37C, the Trustees of the fund have the right (and obligation) to determine who the dependants of the deceased are and allocate the investment to the dependants. The trustees have up to 12 months to make this determin ....

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