Independent on Saturday

Annuity could be a better option than a lump sum

When a member of a pension provident fund dies, a death benefit becomes payable under the rules of the fund.

The death benefit does not fall into the estate of the deceased member. Instead, it is set aside for the benefit of the dependants and nominees of the deceased member, and thus protected against creditors of the deceased estate.

Under section 37C of

You’re reading a preview, subscribe to read more.

More from Independent on Saturday

Independent on Saturday4 min read
Guarding The Source Of The Water We Drink
The Drakensberg mountains have a new 6 500 hectare nature reserve. The new Northern Drakensberg Nature Reserve is working with communities and will preserve ancient rock art, vital grasslands and water sources for millions of people. It connects a ne
Independent on Saturday2 min read
Floods Demand Climate Action
Another natural disaster and, in typical South African fashion, several individuals and organisations have stepped up to help those affected. Insurance companies too have responded with alacrity, and those with the means for cover will soon have thei
Independent on Saturday2 min read
Repurposing Booze Bottles Into Striking Mementoes
Pietermaritzburg glass artist Owen Sithole noted how alcohol was central in many celebrations and sought to make lasting memories through his work. For Sithole, being an artist is primarily about celebrating the momentous occasions and enjoying the f

Related