Death Benefits

If you die while you are a member of the Fund, your dependents will receive:

  • The greater of twice your annual RFI or your Share of the Fund, at the date of death; plus
  • A monthly pension payable to your spouse or life partner of 40% of your RFI (if elected) ; plus
  • Monthly pensions payable to your eligible children of 20% of your monthly RFI, per eligible child, subject to a maximum of two eligible children (if elected). You can access the voluntary  childrens’ and spouse’s pensions cover application and deselection form here:  Voluntary Benefits Form

Pensions are increased each year in line with inflation and subject to affordability. The approved pension increase for 2020 is 3.60% and will continue to be paid until the earlier of:

  • your spouse’s death or
  • the date you would have attained age 65, in the case of the spouse’s pension.  in the case of the children’s pension, payments will continue as long as the child is under age 21 (or 25 if still undergoing full-time education) and unmarried, or for life if the child is permanently incapacitated.

You may elect not to enjoy the spouse and/or children’s pension benefit in exchange for a greater monthly contribution towards retirement benefits.  The option not to select the children’s benefit is conditional on you having no eligible children.

You should ensure that your beneficiary nomination form is kept up to date to reflect your wishes as to the disposition of your death benefits.  The Trustees use this form as a guide in determining the appropriate disposition of any death benefits.  You can access a beneficiary nomination form here.


Additional Life cover

An opportunity for members of the UWRF to obtain additional life cover. Cover may be selected in multiples of your RFI from once to eight times. Cover ceases at age 65, or if you leave Wits before then, although there is an option to continue the cover on an individual basis.

Once you have joined you must stay on the Scheme until 1 January when you may leave the Scheme, keep your election the same, increase your election (but only by an extra one times), or you may decrease your election by any multiple. An exception is a life-changing event being marriage, divorce or the birth of a child. On one of these events a member may increase or decrease your election by any multiple, it is not restricted to 1 time. If you leave the Scheme at 1 January or upon a life-changing event you are not permitted to rejoin the Scheme at a later date.

In the event of your death, payment will be made in accordance with your wishes expressed in your UWRF Beneficiary Nomination Form, or you may complete a separate nomination form.

You can access further information on the cover as well as the application form and nomination of beneficiary form on the Forms Page.