The issue of factual dependency was considered by the Financial Services Tribunal in Gunpath v Momentum (FundsAtWork) Umbrella Provident Fund and PFA.
The deceased member did not leave any legal dependants (i.e. persons in respect of whom he was legally liable for maintenance) and he also did not complete a nomination form. The board of trustees of the Fund found that he was also not survived by any factual dependants (as contemplated in the definition of “dependant” in the Pension Funds Act) and therefore decided to allocate the death benefit to the deceased’s estate.
Click here to read more.