Death Claim Process
A clear guide to reporting a death, trustee review and payment options.
The death claim process
The process can continue once all required information has been received.
Report a Death
Email claims1@welshfin.co.za. The claims team will explain which information and documents are required.
Trustee Review
Once the required information is complete, the claim is referred to the Trustees to decide how the benefit should be distributed. Additional information may be requested.
Decision & Payment
Beneficiaries are informed of the Trustees’ decision and the available payment options. Payment follows once the chosen method and requirements are complete.
Death Claim Frequently Asked Questions
General guidance about dependants, nominees, trustee decisions and payment.
How do the trustees decide how to distribute death benefits?
The trustees identify dependants and nominees and decide on a fair and reasonable allocation in terms of the Pension Funds Act. They consider the circumstances and relevant financial factors of each potential beneficiary.
What is the difference between a dependant and a nominee?
A dependant is someone the deceased member supported financially or was legally required to support. A nominee is someone nominated in writing to receive a portion of the benefit. The trustees consider both, but a nomination remains a guide rather than an automatic instruction.
What happens if the will names someone else?
A retirement-fund death benefit generally does not form part of the estate distributed under a will. The trustees must allocate it under the Pension Funds Act.
Can an estate receive the benefit?
An estate is not normally a beneficiary. Payment to an estate may occur only in limited circumstances, including where no dependants exist and statutory conditions are met.
Which factors do trustees consider?
- Extent of financial dependency
- Ages and relationships of beneficiaries
- Benefit amount
- Financial position and future earning capacity
- The deceased member’s wishes
What documents can prove dependency?
Depending on the circumstances, evidence can include bank statements, school or tertiary letters, proof of fees, maintenance orders, medical-aid records and affidavits.
When will beneficiaries receive payment?
The Fund pays the benefit once the investigation and trustee allocation have been finalised and the beneficiaries have selected the available payment option.
What happens to the benefit during the investigation?
The benefit remains invested in the Fund’s investment portfolio while the death-claim investigation is completed.
Can a minor receive payment directly?
The trustees may pay a guardian or caregiver, or may use a beneficiary fund to manage the minor’s allocation in the child’s best interests.
What payment options are available to adult beneficiaries?
Subject to applicable rules and tax, adult beneficiaries may have lump-sum and/or annuity options. A qualified financial adviser should be consulted.
Can a death benefit be transferred to another fund?
The current site states that the Income Tax Act does not allow a death benefit to be transferred to another fund.
Report a death or request assistance
Contact the claims team to begin the process.