Regulatory Alerts2026-05-11
Circular 3 of 2025 – Disposition of Lump Sum Benefits on Death of Member
The Retirement Funds Department directs all retirement funds and administrators to update member Beneficiary Nomination Forms and submit written confirmation by July 31, 2025. Thereafter, only forms signed within the preceding eighteen months will be recognized as valid for determining lump sum death benefit distributions under existing regulations. Funds must additionally issue annual Benefit and Projection Statements to members within thirty days following their financial year-end audits.
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