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What happens to my preservation fund if I die?

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When you activate your preservation fund account, you will be asked to nominate a beneficiary or beneficiaries. If you die, your funds will be transferred to your nominated beneficiaries. 

Preservation funds are regulated by the Pension Funds Act which means they need to abide by section 37C of the Act. This section of the act requires that the trustees of the fund ensure that the beneficiaries you have nominated are financially dependent on you. Therefore your beneficiary nomination is a guideline for the trustees.

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