On Thursday 5 May 2022 the IRFA will be hosting a training session on Death Benefits and Section 37C with the ASISA Academy from 09h00 to 12h00. The training will cover more complex circumstances related to managing death benefits in a retirement fund, based on recent court decisions, PFA determinations and FST orders.
ONLINE WORKSHOP LEARNING OUTCOMES
The following table summarises the Learning Areas and Learning Outcomes covered in this workshop:
PENSION FUNDS ACT, SECTION 37C DEATH BENEFITS MASTERCLASS (½ day – 3 hours)
Learning Outcomes - By the end of the course successful participants will be able to…
Legislative framework - a summary and overview
• To be able to have clear understanding of the construction of section 37C, its interpretation and the objectives.
Definition ‘Dependant’
• To be able to describe each of the sub-paragraphs of the definition and these are paragraphs (a), (b) and (c) and to apply these practically;
• analyse the complex issue of the common law legal duty to maintain different categories persons and these are-spouses, children, parents, grandparents and grandchildren, nephews and nieces and siblings
• to identify different spouses in terms of the definition ‘Spouse’ in the PFA.
Issue of maintenance of another person
• To understand what in law constitutes maintenance versus generosity type payments falling short of the common law maintenance requirements.
The financial dependency and indigency tests.
• To describe and apply the financial and indigency tests in the board room.
Functus officio principle
• To describe and apply this administrative law principle in the board room.
Nominated beneficiaries
• To define the concept of a nominated beneficiary and the problems associated with a nominated beneficiary.
