This booklet must be fully completed prior to submission. · Provident Fund is governed by s37C of...

Death Benefits procedure guide

This booklet must be fully completed prior to submission.

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Contents

Introduction 4

Benefits paid by the Fund 5

– Overview 5

– Dependants/nominated beneficiaries 5

– Payment of benefits 8

– Deductions from the Fund Death Benefit 8

Benefits paid by BPSA 9

– Ex-gratia payment 9

– BPSA Group Life Assurance Benefit 9

– Voluntary Group Personal Accident Insurance cover 10

– Shares 10

– Deductions from benefits paid by BPSA 10

Process to be followed on the death of an employee 11

Annexures: 12

– Annexure A – Extracts from the Pension Funds Act, 1956 12

– Annexure B – Death Benefit checklist – documents required 13

– Annexure C – Dependants’ background information 15

– Annexure D – Alexander Forbes notification of death 21

– Annexure E – Capital Alliance notification of member’s death (re-insured) 24

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Introduction

BPSA Provident Fund

The Board of Trustees of the BPSA Provident Fund has the task of distributing Death Benefits

payable by the Fund to the dependants and nominees of deceased members. This

includes both the Life Assurance Benefit paid by the Fund and the members’ Fund Credits

(i.e. contributions inclusive of investment returns).

In the majority of cases, the Trustees have no personal knowledge of the deceased or

his/her circumstances. They rely on information supplied by the Human Resource Manager/

Consultant and the Beneficiary Nomination Form. The gathering and collating of the informa-

tion on the dependants and nominees is vital to ensure the fair and equitable distribution of

the Death Benefits. The allocation must be in terms of 37C of the Pension Funds Act (refer to

the separate summary of this portion of the legislation in Annexure A).

The Board of Trustees of the BPSA Provident Fund has established a Death Benefits Sub-

Committee to review the information provided by the Human Resource Manager to ensure

that all the relevant information has been provided in the required format. The information

is used to draft a recommendation for the equitable allocation of the Death Benefit for

approval by the Board of Trustees. The Fund’s administrator informs the deceased member’s

dependants/beneficiaries of the decision taken by the Board of Trustees regarding the

allocation of the Fund benefit.

The Sub-Committee consists of the following people:

• Principal Officer of the BPSA Provident Fund;

• Trustees;

• Alexander Forbes consultant; and a

• Relevant Human Resource Manager.

The Board of Trustees appoints the Chairman of the Sub-Committee.

The Sub-Committee meets as soon as all the information per case has been provided by the

Human Resource Manager.

BPSA

In addition to the Death Benefits paid by the Fund, BPSA pays a number of other death

benefits to dependants on the death of an employee or retiree. The amount of these

benefits is usually significant. The reporting line manager/Human Resource Manager is

required to inform the Principal Officer of the death of an employee and member of the

BPSA Provident Fund to ensure the timeous payment of these benefits. These are described

in more detail in this document.

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Benefits paid by the Fund

Overview

In the event of the member’s death before

the normal retirement age (age 60 or 65 in

respect of ECM members), the following benefits

are paid to the member’s dependants and/or

nominated beneficiaries:

• the member’s Fund Credit (i.e. contributions and

investment returns), and

• 16% of the member’s fund salary at the date of

death multiplied by the total years of service

(years of service to date of death plus potential

years of service to normal retirement age).

Fund salary is defined as either:

• the member’s basic annual salary including a 13th

cheque (if applicable), or

• 70% of the member’s annual Total Cost of Employ-

ment package.

In the event of the member’s death in service after

his normal retirement age (age 60 or 65), only the

Fund Credit is payable.

The apportionment of Death Benefits from the BPSA

Provident Fund is governed by s37C of the Pension

Funds Act. An extract of this section of the Act and

the definition of dependant is attached for ease of

reference. Another factor that the Board of Trustees

has to consider in apportioning Death Benefits is the

view of the Pension Funds Adjudicator as expressed

in the determinations.

The Board of Trustees is required to identify and make

a reasonable attempt to trace all the deceased

member’s dependants within a twelve-month period

following the death of the member. The Board of

Trustees may only apportion the benefits once they

are aware of all known dependants.

Dependants/nominated beneficiaries

In identifying potential dependants, the Trustees are

required to consider the following:

Spouse:

• civil law;

• party to a customary union according to Black law

and custom (may include more than one spouse);

• party to a union recognised as a marriage under

another religion; and or

• permanent life partner.

Child (minor and major):

• member’s child;

• posthumous child;

• adopted child;

• illegitimate child; and

• excluding stepchildren and foster children (factual

dependants only).

A person in respect of whom the member would

have become legally liable for maintenance, had

the member not died.

Parents and grandparents:

• if they are unable to support themselves and the

deceased member had the means to do so; and

• proof that they would have become dependent

on the member at a future date.

Ex-spouse:

• Voluntary maintenance or in terms of an Order of

Divorce and Agreement; and or

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• note that a liability to pay medical aid contribu-

tions is also classified as maintenance in terms of

the Divorce Act.

With regard to nominated beneficiaries, the Trustees

are required to consider the following:

• If the nomination was made prior to 30 June

1989, it is not valid. In this instance, only pay to

dependants.

• Nominations must be in writing and may be

contained in the Will of the deceased. A nomi-

nation may be ignored when the Trustees need

to achieve an equitable distribution amongst

dependants.

• An estate cannot be a nominated beneficiary.

• Only a natural person may be nominated e.g.

members are not permitted to nominate charities

in terms of the allocation of their Fund benefit but

may do so in their Will.

• If nominees only, can only pay to them if the

estate is solvent. A letter from the Executor of the

estate confirming this is required.

If there are no dependants or nominated benefi-

ciaries, the Trustees are required to pay the benefit

into the deceased member’s estate. The benefit is

then dealt with in terms of the deceased member’s

Will. If the member did not have a valid Will, the laws

of Intestate succession will apply.

In apportioning the Death Benefit, the Board of

Trustees is required to take the following factors into

account:

• all potential dependants;

• all nominated beneficiaries;

• ages of dependants;

• extent of dependency of dependants;

• relationship of dependants with the deceased;

• wishes of the deceased as reflected on a valid

nomination form ;

• wishes of the deceased as reflected in the last Will

and Testament;

• financial affairs of the dependants, including

future earning potential;

• whether there is a Maintenance Order/agree-

ment;

• whether an ex-spouse has remarried;

• whether the deceased was financially solvent; and or

• whether an investigation has been made to trace

all dependants, irrespective of whether or not

they have been included in the nomination form.

The Board of Trustees requires the following docu-

mentation that will prove dependency and sub-

stantiate the above factors:

• Notification of Death;

• Nomination of Beneficiary Form;

• Original certified copy of death certificate;

• If available, a copy of the Will – this could provide

insight into the nature of the relationship between

the deceased and the dependants;

• If there are no dependants or nominated

beneficiaries, details of the deceased’s estate,

name ofthe Executor, whether the estate is

solvent or not;

• Proof of prior claim by employer;

• Address and contact details of all dependants

and nominated beneficiaries; and

• Banking details on bank letterhead of all

nominated beneficiaries to whom benefits will be

paid.

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If there is a spouse/partner:

• Original certified copy of marriage certificate:

civil/customary. In the case of a customary union,

a letter from the chief is not adequate.

• Original certified copy of identity document.

• Proof of income and financial position of each

spouse/partner.

• Confirmation that the deceased and spouse were

living together at date of death. If not, why not?

• If permanent life partner, an affidavit to sub-

stantiate that there was a common household,

the duration of the common household, plus proof

of dependency such as joint banking account,

joint ownership of house. Proof of income earned

by spouse/partner.

If there is an ex-spouse:

• original certified copy of Maintenance Order/

Divorce Order and agreement;

• proof of payment by deceased;

• original certified copy of identity document;

• details of ex-spouse’s monthly income;

• whether ex-spouse has remarried; and

• if a customary union, whether it has been dis-

solved. If yes, proof is required.

If spouse deceased:

• Original certified copy of death certificate of

spouse.

Children (minor and major):

• original certified copies of birth certificates;

• original certified copies of identity documents;

• proof of schooling;

• confirmation as to whom is supporting and looking

after the children;

• whether the children lived with the deceased;

• proof of income of children;

• details of the extent of monthly monetary support

required by the children;

• proof of disability;

• details of guardians appointed to minor children;

and

• proof of income of person/guardian looking after

children.

Grandchildren:

• original certified copies of birth certificates;

• proof of schooling;

• who is supporting and looking after the grand-

children;

• whether the grandchildren lived with the de-

ceased; and

• proof of financial support.

Other dependants:

• relationship to the deceased;

• nature of their dependency on the member prior

to death;

• details of their monthly income; and

• original certified copies of identity documents.

Nominated Beneficiaries:

• name of nominated beneficiaries;

• relationship to deceased;

• original certified copies of identity documents;

and

• details/relationship of person verifying information

of nominated beneficiaries.

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Payment of benefits

If the benefit is paid as a lump sum, a portion is tax-

free and the balance is taxed according to the

following sliding scale:

Rand amount of benefit Rate of tax applied

R0 - R300 000 tax-free

R300 000 - R600 000 18%

R600 000 - R900 000 27%

R900 001 and above 36%

Alexander Forbes applies for the tax directive,

deducts the tax from the lump sum and issues the

IRP5 to the dependants(nominated beneficiaries)

who have recieved a portion of the death benefit.

.

If the benefit is paid as a pension, the pension is

taxed as income (i.e. marginal tax rates apply). An

annuity is purchased from a registered financial

services provider of choice and a net pension is paid

to the dependants.

If the benefit is paid into a Beneficiary Fund, the

amount is not taxed on transfer into the Fund.

Payments made from the Fund will be taxable in the

hands of the beneficiaries.

Deductions from the Fund Death Benefit

In terms of s37D of the Pension Funds Act, only the

following deductions may be made from a benefit

payable to a member or a dependant of a member:

• A loan granted to the member by the Fund

for the purposes of financing housing or home

improvements.

• An amount for which the Fund or the Employer is

liable under a guarantee provided in respect of a

housing loan granted by a financial institution, for

example a bank.

• Compensation (including legal costs recoverable

from the member) in respect of damage caused

to the employer as a result of theft, misconduct,

fraud or dishonesty of a member and in respect

of which:

– the member has admitted liability in writing to

the employer; or

– the employer has obtained a Court Judgment.

There has been a ruling from the Pension Funds

Adjudicator that allows the Fund to withhold

payment of a benefit for a reasonable period

of time in circumstances such as this to enable

the employer to institute legal proceedings. The

employer must institute criminal proceedings

and make a claim for damages as well. The

Fund may only withhold the amount equal to

the loss suffered by the employer and not the

entire benefit.

For this purpose, the member will be deemed to

have elected his benefit in the form of a lump sum

to the extent permitted in terms of the Income Tax

Legislation but not greater than the claim by the

employer or the Fund. The amount of any prior claim

will be limited to an amount not exceeding the

amount which in terms of Income Tax Legislation may

be taken as a lump sum.

Note• The administrator will not deduct any amounts

from member’s benefits unless they arespecifically provided for above.

• It is not possible for an employee to “sign-over” his benefits to the employer becausethe Pension Funds Act clearly states that nobenefit or right under the Fund may be ceded,pledged or assigned nor may a benefitbe subject to any form of attachment orexecution. An acknowledgement of debt forany debt other than a debt detailed abovecould be viewed as an attempt to cedebenefits and will not be entertained by theadministrators.

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Benefits paid by BPSA

Human Resource Services are required to finalise

the calculation of all the benefits payable by BPSA

and must ensure timeous payment to dependants/

nominated beneficiaries/deceased’s estate. Human

Resource Services are required to communicate the

payment details to the involved parties.

Ex-Gratia payment

In the event of an employee dying in service, an

immediate ex-gratia payment of two months basic

salary/pensionable salary is made to the spouse,

appointed guardian or appointed nominee. This

payment is intended to assist the family in paying for

immediate expenses and to sustain them until the

Death Benefits from the BPSA Provident Fund have

been allocated and the BPSA Group Life payments

become available.

The ex-gratia payment is paid tax-free and is usually

paid to the deceased’s spouse, appointed guardian

or appointed nominee. If none exists, payment is

usually made to the deceased’s estate. However,

as this is a discretionary benefit, the employer is

required to take any extraordinary circumstances

into account when deciding to whom to make

payment. Preference is given to individuals who

bear the cost of the funeral arrangements and

where proof of this can be supplied.

The following documentation is required in order to

finalise the payment:

• original certified copy of death certificate; and

• nomination of beneficiary form.

BPSA Group Life Assurance Benefit

The BP Southern Africa (Pty) Ltd Group Life Assur-

ance Plan is underwritten by Old Mutual (Policy No

1 850 499).

On the death of an employee, a lump sum of twice

annual basic salary/pensionable salary is paid to BP

Southern Africa (Pty) Ltd.

In respect of an employee who is not in receipt of

a Total Cost of Employment (TCoE) remuneration

package and is entitled to a thirteenth cheque,

twice annual salary will equate to their last monthly

basic salary X 26. In respect of an employee who

is not in receipt of a TCoE remuneration package

and is not entitled to a thirteenth cheque, twice

annual salary will equal last monthly basic salary

X 24. All employees in receipt of a TCoE remunera-

tion package are entitled to twice annual pension-

able earnings (i.e. monthly pensionable earnings

X 24).

The payment of the Group Life Assurance Benefit is

tax-free. The insurer pays BPSA the total amount and

in turn BPSA effects payment in accordance with

the nomination of beneficiary form. This is a separate

nomination form to the Beneficiary Nomination

Form completed by the member in respect of Fund

benefits. If no form exists or if the nomination is invalid,

the benefit is paid into the deceased’s estate.



• original certified copy of death certificate; and

• nomination of beneficiary form.

In addition to the above, an accident benefit of 2 X

annual pensionable salary is also payable under the

policy if the employee’s death was as a result of an

accident. The deceased is covered, irrespective of

whether or not he/she was on business at the time

of the accident. BPSA pays a further 1 X annual

pensionable salary as an accident benefit. The total

accident benefit therefore amounts to 3 X annual

pensionable salary.

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Voluntary Group Personal Accident Insurance

cover

If an employee who opted for this cover dies and

the employee’s death is as a result of an accident,

the lump sum as selected by the employee on the

application form will become payable.

The payment of the benefit is tax-free and it is paid to

the deceased’s estate.



• claim form;

• original certified copy of death certificate;

• original certified copy of the identity document of

the deceased;

• original certified copy of the identity document of

the policyholder;

• Road Traffic Collision Report (if death was due to a

motor vehicle accident);

• Post Mortem report with Blood Alcohol test report;

• Inquest Report and/or Court Proceeding report;

and

• Letter of appointment of the Executor of the

Estate.

Shares

If the employee had BP shares, these are transferred

to “Estate late …”. The Executor of the estate decides

whether the shares are to be retained, sold, part

retained or part sold. Dividends are paid into the

estate for shares that are retained. If it is decided

upon to sell the shares, the proceeds are paid to the

estate.

Dividends are tax-free but must be declared in

annual tax returns. Capital Gains Tax is payable on

the proceeds from the sale of shares and must also

be declared in tax returns. The transfer of shares into

the beneficiary’s name is tax-free.



• Letter of appointment of the Executor of the

Estate;

• Instruction letter from Executor of the Estate; and

• bank details of the Estate.

Deductions from benefits paid by BPSA

All debts owing to BPSA that are not permitted to be

deducted from the Fund benefit can be deducted

from the non-retirement fund benefits paid by BPSA.

>> 11

Process to be followed on the death of an employee

Death of a BPSA Provident Fund member

Human Resource Manager to notify the Principal Officer (PO) of the death of the employee and member of the Fund

PO ensures that Human Resource Services are aware of the death in order to initiate the BPSA Group Life Cover claim

Human Resource Manager supplies completed Death Benefit Guide to to the PO for final assessment

The PO may request additional information from the Human Resource Manager depending on the specific dependants/beneficiary circumstances

Sub-comm not happy and requests more information

If in order:PO drafts family tree

Death Benefit Sub-Comm meeting scheduled at which HR Manager

must be present

Sub-Comm happy and formulates a recommendation

Submitted to the Board of Trustees for approval Board is not happy – wants additional information

Happy and approve allocation of the Death Benefit

Resolution signed and Alexander Forbes makes payment

If not in order:

The entire process will take a minimum of six months to complete.

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Annexure A Extracts from the Pension Funds Act, 1956

s37C(1) of the Act reads as follows:

Notwithstanding anything to the contrary contained in

any law or in the rules of a registered fund, any benefit

payable by such fund, upon the death of a member

shall, subject to a pledge in accordance with s19 (5)

(will be) (I) and subject to the provisions of s37 A (3)

and 37 D, not form part of the assets in the estate of

such members, but will be dealt with in the following

manner:

• If the Fund within twelve months of the death of the

member becomes aware of or traces a dependant

or dependants of the member, the benefit shall be

paid to such dependant or dependants as may be

deemed equitable by the Board, to one of such

dependents or in such proportions to some or all of

such dependants;

• If the Fund does not become aware of or cannot

trace any dependant of the member within twelve

months of the death of the member, and the

member has designated in writing to the Fund a

nominee who is not a dependant of the member, to

receive the benefit or such portion of the benefit as

is specified by the member in writing to the Fund, the

benefit or such portion of the benefit shall be paid

to such nominee: Provided that where the aggre-

gate amount of the debts in his estate exceeds

the aggregate amount of the assets in his estate,

so much of the benefit as is equal to the difference

between such aggregate amount of debts and

such aggregate amount of assets shall be paid into

the estate and the balance of such benefit or the

balance of such portion of the benefit as specified

by the member in writing to the Fund shall be paid

to the nominee.

– If the member has a dependant and the member

has also designated in writing to the Fund a

nominee to receive the benefit or such portion

of the benefit as is specified by the member

in writing to the Fund, the Fund shall within

twelve months of the death of such member

pay the benefit or such portion thereof to such

dependant or nominee in such proportions as

the board may deem equitable: Provided that

this paragraph shall only apply to the designation

of a nominee made on or after 30 June 1989:

Provided further that in respect of a designation

made on or after the said date, this paragraph

shall not prohibit a Fund from paying the benefit,

either to a dependant or nominee contemplated

in this paragraph or, if there is more than one such

dependant or nominee, in proportions to any or

all of those dependants and nominees.

• If the Fund does not become aware of or cannot

trace any dependant of the member within twelve

months of the death of the member and if the

member has not designated a nominee or if the

member has designated a nominee to receive a

portion of the benefit in writing to the Fund, the

benefit or the remaining portion of the benefit after

payment to the designated nominee, shall be paid

into the estate of the member or, if no inventory in

respect of the member has been received by the

Master of the Supreme Court in terms of s9 of the

Estates Act, 1965 (Act No. 66 of 1965), into the

Guardian’s Fund.

A “dependant” is defined in the Act as follows:

• a person in respect of whom the member is legally

liable for maintenance;

• a person in respect of whom the member is not

legally liable for maintenance, if such person –

– was, in the opinion of the board, upon death of

the member in fact dependent on the member

for maintenance;

– is the spouse of the member, including a party to

a customary union according to Black law and

custom or to a union recognised as a marriage

under the tenets of any Asiatic religion;

– is a child of the member, including a posthumous

child, an adopted child and an illegitimate child;

• a person in respect of whom the member would

have become legally liable for maintenance, had

the member not died.

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Annexure B Death Benefit checklist – documents required

All documents must be original certified copies.

Dependants✓ where

applicable

Notification of Death

• Inform Alexander Forbes of the death of the member by completing the Death Notification Formand sending it to Human Resource Services within one month of the death of the employee.

• Inform the Principal Officer of the Fund of the death of the member via email:

[email protected]

• Inform Ms Doreanne Bastiaan and Ms Michelle Bartnicke of the death.

Nomination of Beneficiary Form

• Obtain the Fund’s Beneficiary Nomination Form

• Obtain the nomination form completed by the employee in respect of the benefits paid by BPSA.

• Original certified copy of death certificate.

• If the member died in a motor vehicle accident, supply

– Inquest (two copies)

– Post Mortem (two copies)

• Copy of Last Will and Testament.

• Prior Claim supporting documents including acknowledgement of debt by member to enablespecified deductions to be made from the Fund Death Benefit.

• Letters from banks confirming banking details of dependants/beneficiaries.

Married Member

• Original certified copy of marriage certificate.

• Proof of customary union.

• Affidavit in respect of common law relationship/same sex partner regarding their union and theirextent of dependency on the member.

• Original certified copies of identity documents.

• Proof of financial dependency in the form of an affidavit (if applicable).

• Proof of income.

Divorced Member

• Maintenance Order/Divorce Order and Agreement/Proof of termination of common law orcustomary union.

• Original certified copy of identity document.

• Proof of financial dependency in the form of an affidavit (if applicable).

• Proof of income.

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Annexure B Death Benefit checklist continued

Widowed Member✓ where

applicable

• Original certified copy of death certificate of spouse.

Children (Major & Minor)

• Original certified copies of birth certificates.


• Proof of schooling/student.

• Proof of disability.

• Proof of income of guardian.

• Proof of extent of dependency of child – in the form of an affidavit.

• Proof of appointment as guardian.

Guardian/caregiver details

• Refer to the list of questions within the table.

Grandchildren

• Original certified copies of birth certificates.


• Proof of schooling/student.

• Proof of disability.

• Proof of financial support in the form of an affidavit.

• Proof of income of child.

Other Factual Dependants


• Proof of financial support provided to them by the member prior to death – in the form of an

affidavit.

Nominated Beneficiaries


>> 15

Annexure C Dependants’ background information

Member details

Name

Global ID

Date of death

Cause of death (per death certificate)

If unnatural cause, is there an investigation underway?

Are any of the dependants implicated?

BP business unit

Member’s date of birth

Member’s age at date of death

Fund membership start date

Years of service

Monthly basic salary/pensionable salary at date of death

Monthly banked earnings after tax (net pay)

Death Benefit provided by the BPSA Provident Fund

*Total Death Benefit at date of death

(i.e. life assurance plus Fund Credit)

*Life Assurance benefit

*Fund Credit

*Please obtain from Alexander Forbes

Family information

Legal spouse’s details

Date of marriage

Spouse’s name

Spouse’s date of birth

Spouse’s age at member’s date of death

Was spouse living with the member prior to death?

If not, please provide details.

Postal address to be used for future correspondence

Contact telephone number

Spouse’s income from employment (gross and net

amounts. Provide copy of payslip)

If spouse is not employed, state prospects of employment.

Details of spouse’s extent of dependency at date of

member’s death (provide affidavit confirming the details)

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16 >>

Annexure C Dependants’ background information continued

Children’s details

Children’s names and dates of birth (indicate whether they

are natural or adopted children of the deceased member

and spouse or step children of one of these parties)

Children’s age/s at member’s date of death

Children’s extent of dependency at member’s date of

death (provide affidavit confirming the details)

Who is taking care of the child/children?

Name of legal guardian if not the spouse

State if the children were living with the deceased.

If not, why not

Specify any special circumstance i.e. is the child disabled

or requiring special schooling or care?

State if the child/ren are students or if they are employed

Total spouse’s and children’s extent of dependency at member’s date of death

Person to be regarded as a spouse in terms of Rules (e.g. customary/traditional spouse/common law spouse/same sex partner)

Name

Relationship

Date of birth

Spouse’s age at member’s date of death

If spouse is not employed state prospects of employment

Extent of dependency at date of death

(provide affidavit noting the details)

Details of the children of this “spouse” and the deceased

Children’s names and dates of birth

Children’s age at member’s date of death

Children’s monthly income needs

Name of legal guardian if not the spouse

Specify any special circumstances i.e. is the child disabled

or requiring special schooling or care?

Children’s extent of dependency at member’s date of

death (provide affidavit confirming the details)

State if the child/ren are students or if they are employed

Specify occupation and income of major child/ren

Total spouse’s and children’s extent of dependency at member’s date of death

R

R

>> 17

Details of ex-spouse if previously divorced

Name

Date of divorce

Details of maintenance, if applicable (provide original

certified copy of Maintenance Order)

Details of minor child/ren’s guardian or caregiver if not the spouse

What is the guardian’s highest level of education?

Does the guardian have any experience regarding the

investment of funds?

Does the guardian use the services of an investment or

financial adviser etc?

Is the guardian currently employed? If not, when last

was he/she employed?

Does the guardian run his/her own business? (specify)

What does the guardian earn and is this a regular income?

Does the guardian own any assets (e.g. house, car,

investments etc (specify)

Does the guardian have his/her own banking account

and if yes, for how long has he/she operated this account?

What is the guardian’s state of health?

Monthly household income and expenditure

Please provide the detail below as it pertains to the surviving dependants – i.e. spouse, children, partner, girlfriends/

boyfriends etc. This information is vitally important in establishing their needs and dependency on the deceased

prior to death.

Income

Net monthly/weekly salary R

Income from informal trading R

Own business R

Old age pension R

Investments/annuities R

Total income R


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18 >>

Expenses

Bond/Rent R

Electricity and water R

Telephone R

Cell phone R

Food and toiletries R

School fees and after care per month R

School clothing pm / pa (specify) R

School sundries and extra curricular activities R

Clothing R

Car repayments R

Petrol R

Car repairs R

Loan repayments R

Domestic services R

Insurance (short and long term) R

Entertainment R

Maintenance R

Accounts (HP, clothing etc) R

Holiday expenses R

Other R

Total expenses R

Any other person who may have been regarded as having been dependent on the deceased (e.g. surviving elderly parents)

Name

Relationship

Date of birth

Person’s age on death of member

Reason for dependency

Extent of dependency at date of death

(provide affidavit confirming the details)


>> 19


SAPROVIDENT FUND

Estate

If no dependants, is the estate solvent?

Is there a valid Will?

Who is the executor of the estate?

Contact details of the executor Name

Telephone

Are there any insurance policies paid outside the estate? If yes, to whom, what is the value of the benefit to be paid and who is the life assurer?

Name of the Fund/Retirement annuity/other policies Beneficiary Rand value of benefit

Medical aid dependants

If the deceased was a member of the BP Medical Aid Society, please provide details of all registered dependants

Name

Relationship

Age

Name

Relationship

Age

Name

Relationship

Age

Beneficiary nomination form information

Attach the most recent beneficiary nomination made to the Fund.

Member’s wishes regarding payment of Death Benefit

Attach supporting documentation e.g. member’s Will if applicable and/or documentation from deceased’s financial adviser.

Beneficiary nomination form. Provide the date it was signed.

Last Will and Testament. Provide the date it was signed.

Name and contact details of family financial adviser.

SAPROVIDENT FUND

20 >>

Fund housing loan facility

Balance owing

Property

Amount of outstanding bond

Was the property owned by the deceased?

Does the spouse/family wish the Death Benefit to be

applied to settle the outstanding bond?

Payment of benefits from BPSA (Pty) Ltd

Ex-Gratia 2 times monthly basic/pensionable salary

BP Group Life cover of either 24 or 26 times monthly

basic salary

Leave pay

Pro-rata bonus (i.e. 13th cheque) if applicable

Last gross monthly salary

Last net monthly salary (i.e. take-home pay after all

deductions incl tax)

Voluntary Personal Accident insurance

Group Personal Accident of three times annual basic salary

Performance bonus (VPP)

Please provide any additional comments/observations that would assist the Board of Trustees in the equitable allocation of benefits.

Human Resource Manager

Date


>> 21

Member’s particulars (please complete in full)

Member’s surname

Member’s first names

Member’s maiden name

ID / Passport number Date of birth

Country of issue

Residential address Unit number Complex

Street number Street/Farm name

Suburb City/Town

Country Code

Postal address

Code

Employee number Date of employment

Date of death Date of last contribution

Cause of death (if known) Accidental Not accidental

Annual salary on which death benefit is based R ,

Period of employment outside

RSA prior to death Completed years From To

Income tax number

Revenue office

Non-completion of these will result in a delay in the settlement of this claim.

Documentation to be attached (certified copies required)

Member’s proof of age Member’s death certificate Proof of age for dependant children

Trustee’s disposal resolution* Member’s marriage certificate Proof of age for spouse

Nomination of beneficiary form

* The claim form needs to be lodged as soon as possible. If the disposal instructions are not available, they should follow later.

Are you aware of any Divorce or Maintenance Court Order issued affecting the payment of Fund Benefits?

Yes No If yes, please provide a copy of the Court Order.

Indebtedness to employer to be recovered from benefits (deductions as per s37D of the Pension Funds Act)

Deductions as per s37D of the Pension Funds Act R ,

The section provides two instances when a fund may deduct amounts from a member’s benefit. These are:

• When the member owes the fund or his employer money for an 1. outstanding housing loan given by the fund or the employer or

where the fund or employer provided a guarantee for a housing loan taken by the member and the guarantee is enforced.

• In the event of an employer suffering loss due to an employee’s theft, dishonesty, fraud or misconduct, where the employee has

admitted liability in writing or a court judgement has been obtained. In such instances, a copy of the court order or the member’s

admission of liability for the loss must be attached.

Annexure D Notification of death

Alexander Forbes Financial Services (Pty) Ltd.Reg No. 1969/018487/07 l FAIS licence No. 1177 l Operations and Administration

Alexander Forbes , Block A, Boulevard Office Park, Searle Street, Woodstock 7925 PO Box 253, Cape Town 8000 l Tel : +27 (21) 401 9300 l Fax : +27 (21) 415 5580

Name of Retirement SchemeBP Southern Africa Provident Fund

Name of Employer/PaypointBPSA

22 >>

Important notes on death claims:

• Alexander Forbes / the insurer must be notified of the death of a member within three months of the death of the member.

• All documentation in support of the claim must be provided to Alexander Forbes / the insurer within twelve months of the death of

a member.

The above timeframes are guidelines only. The timeframes specific to this Fund may be shorter than those mentioned above as it is

dependent on the terms & conditions reflected in the fund’s policy document. Failure to meet the applicable timeframes will result in

the repudiation of the claim i.e. no insured benefit will be payable.

In terms of legislation, any benefit which is due and which has not been paid within 24 months from the date it first became due in terms

of the rules of the fund will become an “unclaimed benefit” and may be transferred to an unclaimed benefit fund.

Details of advance payment (if required)

Please note that if an advance payment is to be made we will require either that a Trustee signs the claim form or that a separate

letter, signed by a Trustee, accompanies the claim form as authorisation to make the advance.

Beneficiary’s surname

Beneficiary’s first names

ID / Passport number Date of birth

Relationship to deceased

Amount required R ,

Payment instructions

Please note:

Ensure that the bank account details supplied is in respect of the spouse’s/beneficiary’s own account.

Beneficiary’s banking details (If more than one beneficiary, please show banking details and postal addresses on separate page)

Account holder’s name

Account number

Branch code Type of account Current Savings

Name of bank

Name of branch

Beneficiary’s

residential address

Code

Beneficiary’s

postal address

Code

Telephone number at Cell

which beneficiary can be contacted

Beneficiary’s email address

Annexure D Notification of death continued

>> 23

Trustee’s authorisation of advance payment

Signature Trustee’s name Date

(please print)

Employer’s declaration

It is hereby confirmed and warranted that the;

• information contained herein is correct and, in particular, that the beneficiary’s banking details provided above have been

confirmed as correct;

• the Employer has provided the beneficiary with the contact details for the Investment Advice Centre.

The Employer hereby unconditionally absolves the Fund and Alexander Forbes and as necessary indemnifies and keeps indemnified

the Fund and Alexander Forbes from and against all and any loss, damage, costs and expenses which the beneficiaries, or any other

person whatsoever, may sustain or incur, either directly or indirectly as a result of Alexander Forbes, on behalf of the Fund, relying on and

using any information supplied by the Employer.

Employer’s stamp Authorised signature

Name (Print)

Designation

Contact number Date

Copyright in this material is expressly reserved and this form and all attachments (where applicable) remains the exclusive property of Alexander Forbes. This form and all attachments (where applicable) may not be copied, stored, retrieved or in any way reproduced without the express written permission of Alexander Forbes. Breach of copyright is a serious offence and can lead to litigation. | 5289

Annexure D Notification of death continued

24 >>

Tick where applicable ✔ Please use a black pen and block letters

Scheme name Scheme number

Member’s details

Employer

Member surname

First name(s)

ID number

Membership number Payroll number

Date of death Date of birth

Member’s salary at date of death

Was the member at work on the date that he/she became eligible for membership? Yes No

If not, state reason for absence

State if actively at work on date of death Yes No

If not, state date when last at work and reason for subsequent absence

Payment details

We hereby authorise Capital Alliance Group Risk to pay the benefit into the following account

Name of bank

Branch Branch number/code

Account holder’s name

Account number

Account type Savings account Cheque Account Transmission account

Note: We require proof of your banking details (cancelled cheque or bank statement confirming the account holder’s full name(s),

account number and branch code).

Supporting documents

a) Death certificate b) Supporting documentation required for payment details

c) Proof of age of member (ID) d) Any other documentation as requested by Capital Alliance Group Risk

e) Copy of payslip 1 month prior to death

Annexure E Notification of member’s death (re-insured)

CAPITAL ALLIANCE LIFE LIMITED

Reg No. 1969/008/87/06 Libridge Building, 25 Ameshof Street, Braamfontein 2001 l PO Box 31750, Braamfontein 2017Tel: +27 (11) 408 3911 l Fax: +27 (11) 408 5348

D D M M Y Y Y Y D D M M Y Y Y Y

>> 25

Authorisation and discharge

We hereby certify that the information contained herein is correct, and Capital Alliance Group Risk is hereby authorised to make a payment as stated in the Payment details section.

We agree that payment as stated in the Payment details section, shall constitute good and effectual settlement and shall be a full and final discharge to Capital Alliance Group Risk of its own liability in terms of the fund.

Remarks

Authorised signatory Designation

Date

Annexure E Notification of member’s death (re-insured) continued

Employer’s stamp

D D M M Y Y Y Y

Indemnity Statement I This guide was produced by OMAC Actuaries & Consultants on behalf of the BPSA Provident Fund, BP Southern Africa (Pty) Ltd, Portswood Ridge, Dock Road. V&A Waterfront, Cape Town 8001. It represents an overview of the topics currently under discussion. While every effort has been made to ensure that the information in this guide is correct, the BPSA Management Board take no responsibility for any loss or damage suffered by any person as a result of their reliance on the information contained herein. Reference to “the Scheme” or “your Scheme” refers to the BPSA Provident Fund.

Contact details

Tel. 021 408 2734 l Fax. 021 408 2494Email. [email protected] Box 6006, Roggebaai 8012

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