When a loved one passes away, it can be difficult to make sense of the paperwork and financial responsibilities that come with it. In the case of a pension fund, one of the considerations that must be taken into account is the death benefit that is payable to the deceased’s dependents. The Pension Fund Act regulates this payment and provides a framework for ensuring that those who were dependent on the deceased are not left destitute after their death.
At Uphando, we provide a range of services to help make sure that those who are entitled to a death benefit are able to claim it. This includes tracing dependants, beneficiaries, and nominees; determining whether the dependant was legally or factually dependent on the deceased; and assessing the level of dependency.
It is important to note that the death benefit is not a substitute for life insurance or other types of financial protection. Instead, it is intended to provide a one-time payment to help with immediate financial needs. It is not intended to replace lost income or to provide for long-term financial security. For those who are eligible to receive a death benefit, it is important to be aware of the regulations and the steps that need to be taken in order to claim the benefit.
At Uphando, we can provide the necessary support to ensure that the claim is processed quickly and accurately. For more information, please contact us today.