Why do I need to add a beneficiary when activating my Satrix Retirement Plan (RA) account?

The Pension Funds Act determines that on the death of a member that the benefit will be distributed to the deceased’s dependents.


To ensure that we maintain the Satrix Retirement Plan (RA) fund as a cost-effective vehicle, we want to ensure that on death it is easy to trace dependents and to ensure that the dependents can be paid out as soon as possible after the death of the account holder.

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