Can I Get A Lump Sum From My Husband’s Pension?
Can I Get A Lump Sum From My Husband’s Pension?
YES, you can get a lump sum from your husband’s pension, If a GEPF member dies within five years after the date of their retirement, his beneficiaries will receive the balance of the annuities payable up to the end of the five years as a gratuity (lump sum). This lump sum is payable to his nominees and/or dependents or his estate if there are no beneficiaries.
Also, if the member dies 26 months after retiring, the Fund would pay the annuities payable for the remaining 34 months up to the five years after retirement as a lump sum.
However, if the member should die after five years, your lawful spouse may still qualify for a monthly pension worth either 50% or 75% of the pension you were receiving at the time of your death. The percentage will depend on which option you chose when you retired. If you are not married at the time of your death, no spouse’s pension is payable.
What Goes On When a GEPF Pensioner Passes Away
Upon the death of a GEPF pensioner, the GEPF assists with funeral costs through its funeral benefits program. If the pensioner dies within five years of retirement or discharge, the GEPF will pay out any remaining balance of their retirement or discharge annuities to the designated beneficiaries.
Additionally, if the pensioner has a surviving spouse, life partner, or dependent children, they will be eligible to receive monthly pension benefits.
Death Benefits Of GEPF
Death benefits are provided when a GEPF member dies while working or within five years of retiring. The GEPF also offers annuities to qualifying surviving spouses or children of members who pass away either during their service or after retirement.
- Death While in Service
When a member dies while still employed, the benefit is based on how long they have been in pensionable service. This amount goes to the member’s beneficiaries or, if there are none, to the member’s estate.
- Death After Retirement
After retirement, the member’s annuity is guaranteed for five years. If they die within this time, their beneficiaries receive the remaining balance of the five-year annuity payments as a one-time cash sum (excluding any annual supplements).
- Spouse’s Annuity
A qualifying spouse or eligible life partner is entitled to a percentage of the annuity the member was receiving at the time of death. This also applies if the member dies while working and has at least 10 years of pensionable service.
GEPF Contact Details
Toll-free number: 08 00 117 669
Fax: 012 326 2507
enquiries@gepf.co.za
Postal Address
GEPF Private Bag X63,
Pretoria,
0001
Visit the official website of GEPF for more information. I hope the provided information is helpful, share your thoughts below in the comment section.