In terms of legislation, the trustees of the Retirement Fund i.e. South African Retirement Annuity Fund (SARAF), will decide how the benefits of the policy will be allocated between your dependants and/or your nominated beneficiaries. This means that the trustees may not necessarily pay out the benefits according to your elected beneficiary nomination. Your nomination will, however, be considered.
Benefits will be paid to your nominated beneficiaries provided that your estate is solvent and your dependants and any estate debt have been taken care of first. Where no legal dependents exist, benefits shall be allocated to the nominated beneficiaries.
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Unfortunately, you are only allowed to add up to 10 beneficiaries online.