Pension funds can't deviate from beneficiary instructions without proper investigation, says body | Business

The sons were unemployed and financially dependent on their father. The partner was also unemployed and financially dependent on the man until his death. She was also approaching retirement age.

But Pension Funds Adjudicator, Muvhango Lukhaimane, said that while section 37C of the Pension Funds Act gives the board the discretion to distribute and allocate death benefits equitably, the beneficiary nomination form was binding. "It may well be that the board was correct to deviate from the beneficiary nomination form, but this must be informed by thorough investigations where such investigations warrant a deviation because allocating the benefit in line with the form would lead to inequitable consequences," she said.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

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Two-pot pensions: Treasury clears up tax poser | BusinessAn example in a Treasury document has caused concern about the tax treatment of the so-called 'savings pot'. Treasury addressed these concerns, confirming that not accessing your savings before retirement will have big tax benefits.
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