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Q: What happens to the amount in an employee’s Retirement Savings Account in the event of the employee’s Death?
A: In the event of the employee’s death, the amount in an employee’s Retirement Savings Account (RSA) would be paid out by the Pension Fund Administrator (PFA) as follows:
To a beneficiary under a will; or
To the spouse and children of the deceased; or in the absence of a wife and child
To the recorded next-of kin/any person designated by the deceased when he was alive; or in the absence of such designation
To any person appointed by the probate registry as administrator of the estate of the deceased |
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