PAYMENT OF DEATH BENEFITS & THE INTRODUCTION OF BENEFICIARY FUNDS

Eugene Taljaard - The Financial Services Laws General Amendment Act No. 22 of 2008 was promulgated in Government Gazette No. 31471 on 30 September 2008 and the relevant provisions came into effect on 1 November 2008. This Act amongst others introduced beneficiary funds, which changed the method of payment of death benefits and removed the trustees' discretion to pay these benefits to trusts.
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