beneficiary fund

20 examples (0.02 sec)
  • Furthermore any payment out of a beneficiary fund, whether capital or income, is tax free.
  • Communication generally takes place between the beneficiary fund and the minor's guardian or caregiver.
  • The members of a beneficiary fund are the minor beneficiaries to whom assets have been left.
  • Advantages of beneficiary funds are that they are cost effective and tax effective, and offer institutional investment returns.
  • The beneficiary fund has a board of trustees which needs to register a set of rules with the Financial Services Board.
  • The Letter Carriers provide that the beneficiary fund shall be used exclusively for paying insurance claims. Cited from Beneficiary Features of American Trade Unions, by James B. Kennedy
  • The beneficiary fund industry is complex and still evolving.
  • Beneficiary funds are taxed in the same manner as retirement funds in South Africa, that is no tax is paid in the fund.
  • When the member turns 18, the account is terminated and the funds paid out unless the member requests they remain in the beneficiary fund.
  • Fairheads Benefit Services today provides trusteeship and administration services for umbrella trusts and beneficiary funds only.
  • Nearly all the grand lodges have made provision in their constitutions against encroachments upon the beneficiary funds by the grand officers for the benefit of other departments. Cited from Beneficiary Features of American Trade Unions, by James B. Kennedy
  • This led to the South African government introducing the beneficiary fund vehicle which provides strong protection to its members, the minors whose assets it manages.
  • Rapid further growth is expected as the industry becomes better known and the umbrella trust vehicle, which preceded the beneficiary fund, is phased out (see below under Background).
  • Once the funds are in a beneficiary fund, the trustees of the beneficiary fund take over the fiduciary duty from the retirement fund trustees.
  • FISA also has seven special purpose committees comprising experts in the areas of trusts, estates, compliance, tax, education and training, and beneficiary funds.
  • Fairheads Benefit Services is a market-leading service provider of beneficiary funds and umbrella trusts for retirement funds in Southern Africa.
  • Fairheads Benefit Services was the first beneficiary fund administrator to obtain a 13B licence.
  • Minor children stand a better chance of completing their education if their assets are managed in the beneficiary fund vehicle which is protected under the Pension Funds Act and overseen by a board of trustees.
  • A beneficiary fund needs to comply with the same regulatory and governance standards as any other South African retirement fund in terms of the Pension Funds Act.
  • Although some beneficiary fund accounts run into millions of rands, the average size is around R100 000 which, if carefully managed, can provide a monthly income and finance a child's entire education through to tertiary level.