Question:
Hi How long does it take for a death benefit to be paid out, as my husband passed away in April and until today I have not received anything. We have 2 kids ; 8 years and 1 year; and they were dependent on their father. The other problem is that my husband nominated his siblings on his beneficiary nomination form and they are old enough to take care of themselves, since the younger one is 20 years old. I would like to know what is going to happen to me and the kids? We were married in community of property.
Answer:
Sammy,
It can take up to a year for a retirement fund death benefit to be paid out, as the trustees must ensure that all financial dependents are provided for. The trustees are not bound by the nomination form, and if they believe that your late husband's siblings were not financially dependent on him, they would not share (or at least not much) in the pay-out. The trustees' primary concern will be to ensure that your and your children are looked after.
