Question:
hi can u explain to me do i add my parents on my provident fund beneficiary form or only me husband children
Answer:
Patricia, You can nominate whoever you want on the beneficiaries form; however the trustees decide how your death benefit is allocated, and they must make sure that all your financial dependants receive a fair share. In other words, they are not bound by who you nominate. You will however make their jobs a lot easier if you nominate just (and all) your financial dependants (essentially your spouse and children), If you support your parents, then you should also list them.
The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.
