GIPF urges members to update personal files
GIPF is calling on all of its active members to update their personal files such as the beneficiary nomination forms and their records at their respective places of employment, in order to avoid delays in pension benefit payouts.
Edwin Tjiramba, GIPF’s General Manager for Marketing and Stakeholder Engagement said the most important document which guides the GIPF Board of Trustees in distributing a member’s benefits is a beneficiary nomination form.
A beneficiary nomination form is a document that identifies people (beneficiaries) whom the member has chosen to receive their death benefits in the event of a claim. A beneficiary nomination form does not replace a Will/Testament but only serves as a guideline to the Board of Trustees of a fund when paying out death benefits.
“Thus, it is required of each member to ensure that their form is updated annually or when the need arises, for example in instances of a marriage/divorce, the birth/death of a child/children, or when there is a change in employment,” Tjiramba said.