Beneficiary fund environment stands up to pandemic scrutiny
The management of beneficiary funds is under the spotlight following the economic hardships introduced by pandemic and lockdown. One of the consequences of poor economic growth and consequent reductions in income and job losses, is that many caregivers come under more pressure to provide the necessary support to the children in their care. “Against this backdrop, it is comforting to know that beneficiary funds have continued to fulfil their function of support to the dependants of deceased retirement fund employees,” said Giselle Gould, business development director at Fairheads. The financial services provider was the first to register a beneficiary fund and obtain a 13b administrator’s licence. Gould was presenting on the impact of the current crisis on the day-to-day operations at a beneficiary fund.