What happens to the amount in an employee’s Retirement Savings Account in the event of the employee’s Death?

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 spouse and children or
  • 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