Arnaud v Balanced Future Fund (24757/2020)
Arnaud v Balanced Future Fund (24757/2020) [2022] ZAGPPHC 286 (3 May 2022)
The court held that the Pension Funds Act provides a clear statutory scheme for the distribution of death benefits, which must be paid only to dependants and nominees. The deceased's estranged adopted son, Sean, qualifies as a dependant under the Act, and no valid nomination exists for the applicant or his siblings. The board of the Fund was therefore obliged to allocate the entire benefit to Sean, and had no discretion to consider issues of fairness or the wishes of the deceased. The applicant and his siblings do not qualify as dependants or nominees and are not entitled to any benefit. The…
Source excerpt
- Pension Funds Act
- Death Benefits Distribution
- Dependant Definition
- Nominee Status
- Judicial Review
- Costs Award