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Nomination of Beneficiary Form 

How will my benefit be distributed?

From the Fund

Section 37C of the Pension Fund Act and the rules of the University of Cape Town Retirement Fund state that in the event of your death, your benefit in the Fund should be distributed as follows:

• To dependants; or
• Dependants and nominees; or
• If there are no dependants, to nominees; (but any deficit in your estate first has to be settled); or
• If there are no dependants or nominees, to your estate.

Although the Trustees will follow members’ wishes in terms of their Fund nomination of beneficiary form as far as possible, the final decision of who will receive the Fund death benefit rests with the Trustees. The death benefit is allocated in terms of the Rules of the Fund as well as Section 37C of the Pension Funds Act, which deals with the duties of the Trustees in the allocation of death benefits.

From the Group Life Scheme

The benefit payable from the Group Life Scheme will be distributed according to your latest Nomination of Beneficiary form. In the absence of your nomination form, the benefit will be paid to your beneficiaries, dependants, nominees or Estate as determined by the Employer.

What is a Nomination of Beneficiary form?

The Nomination of Beneficiary Form is a form on which you indicate who your death benefit must be paid to.

IMPORTANT: Members of the Fund need to update TWO separate Nomination of Beneficiary forms:

1. One form for your UCTRF benefit and
2. One form for your separate group life cover benefit (from UCT).

Who do I list on my form?

The Trustees of the Fund are bound, by law, to ensure that all your financial dependants are first taken care of, before any money is paid to your nominees.  Financial dependents may include your children (including adopted and illegitimate children), your spouse or spouses, your partner, your parents/siblings and any other person who was financially dependent on you at the time of your death.

The Fund has to first trace all your dependants, and listing them on your form, makes this process easier for the Trustees.

Our lives are constantly changing. Did you get married or have had any children since you joined the University of Cape Town Retirement Fund? Perhaps you adopted a child or now have a person who is financially dependent on you who was not when you initially joined the Fund? Maybe you have lost a child or a spouse or got divorced since becoming a member of the Fund? 

Please note:   If your circumstances change and you have new dependants, you should update your Nomination of Beneficiary form to reflect these changes.

What happens if I have no dependants?

You still need to complete the Nomination of Beneficiary Forms. You will therefore not list any dependants on the forms, but only nominees.
 
Download the Nomination of Beneficiary forms

UCTRF GLA

(When becoming a member of the UCT Retirement Fund or when your personal circumstances change and you wish to update your nominated beneficiaries)



Separate GLA
(Completed by UCTRF members in respect of the separate Group Life assurance scheme on joining or when your personal circumstances change and you wish to update your nominated beneficiaries)

HR155 (Group Life assurance) Form

GLA Optional Cover

HR156 (Group Life Assurance Optional Cover) Form