Administering beneficiary funds in partnership with Fairheads Benefit Services
Old Mutual Corporate offers beneficiary funds administration through Fairheads Benefit Services - to manage and distribute benefits to dependants and beneficiaries following a member's death.
Beneficiary fund administration requires specialist expertise in estate administration, trust management, and ongoing benefit payments. Fairheads services ensure compliant, compassionate administration of these sensitive arrangements, providing dependants with reliable support and financial security.
Beneficiary funds are established when death benefits are not paid out as lump sums, but are instead retained in a fund structure to provide ongoing support to qualifying beneficiaries - typically minor children, financially dependent adults or beneficiaries requiring long-term financial management.
Beneficiary fund administration requires specialist expertise in estate administration, trust management, and ongoing benefit payments. Fairheads services ensure compliant, compassionate administration of these sensitive arrangements, providing dependants with reliable support and financial security.
Beneficiary funds are established when death benefits are not paid out as lump sums, but are instead retained in a fund structure to provide ongoing support to qualifying beneficiaries - typically minor children, financially dependent adults or beneficiaries requiring long-term financial management.
These services include:
- Beneficiary fund establishment and governance support
- Estate and trust administration
- Beneficiary identification and verification
- Ongoing benefit calculations and payments
- Investment management oversight
- Compliance with regulatory requirements
- Beneficiary communication and support
- Annual reporting and statements
Beneficiary funds involve complex legal, regulatory and emotional considerations. Professional administration ensures:
- Proper distribution of benefits in accordance with the law and the deceased member's wishes
- Ongoing financial security for dependants
- Compliance with regulatory requirements
- Compassionate, clear communication during difficult circumstances
- Long-term sustainability of benefits for qualifying beneficiaries
