GROUND 2 – Survivor's Benefit
In the unfortunate event of death the member's FNPF savings are paid to his/her survivors, in accordance with the nomination filed by the member. A nomination is like a 'will', which provides the names of those who would receive your money in case of death. Usually the survivors are the spouse and children of the deceased. The FNPF provides a special death benefit (SDB) insurance for all members.
Currently, (1st July, 2010) the benefit is $8,500. This benefit is paid in addition to the member's balance. Death can occur to anyone, and one of the important questions should always be whether the member has left adequate financial support for the survivors when such a contingency occurs. The FNPF encourages members to nominate their loved ones to be the beneficiaries of their FNPF savings in the event of death.
- On being notified of the death of a member with the required evidence of death, FNPF shall pay out monies standing to the deceased’s credit together with any Special Death Benefit payable.
- The member is dead by provision of death certificate issued by the Registrar General’s office.
- Any person may notify the Fund of the death of a member however, FNPF will not divulge any matter relating to the deceased member’s account save (savings) to his/her nominee/s.
- “Nominee” means a person nominated by a member of the Fund to receive the whole or part of such member’s credit in the event of the death of such member.