Beneficiary fund

A beneficiary fund is defined as a pension fund organisation in the Pension Funds Act No.24 of 1956 of South Africa, as amended in 2008.It is designed to accept and administer lump sum death benefits allocated in their discretion by pension fund trustees to the minor dependants of deceased pension fund members, as set out in section 37C of the Act.

Beneficiary fund

A beneficiary fund is defined as a pension fund organisation in the Pension Funds Act No.24 of 1956 of South Africa, as amended in 2008.It is designed to accept and administer lump sum death benefits allocated in their discretion by pension fund trustees to the minor dependants of deceased pension fund members, as set out in section 37C of the Act.