Funeral Benefit

The company pays the insurance premium for the funeral benefit on your behalf. While you are employed by the company, as a member of the Fund and under normal retirement age, or if you are a disability member, the following amounts are payable towards the cost of a funeral: 

STANDARD FUNERAL BENEFIT

Benefit effective before
1 January 2021
Current Benefit with effect from 1 January 2021

Member and qualifying spouse

R25 000

R30 000

Children age 14 – 21

R12 500

R15 000

Children age 6 – 13

R5 000

R6 000

Children under age 6

R2 500 R3 000

This benefit ceases at resignation, dismissal, retrenchment or retirement. It is also not applicable to members who have passed their normal retirement age.
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The funeral benefit is underwritten by Guardrisk. Please click this link for information regarding the underwriter.


Additional Voluntary Funeral Benefit 

If you took out the Guardrisk Insurance Additional Voluntary Funeral Assurance benefit, then, while you are employed by the company, a member of the Fund and under normal retirement age, the following additional amounts are payable towards the cost of a funeral: 

 For a small amount of R19,70 (deducted from your salary monthly), you can increase this cover to an ADDITIONAL pay-out as follows:

Benefit effective before
1 January 2021

Current Benefit with effect from 1 January 2021

Member and qualifying spouse

R15 000

 R25 000

 Child age 14 – 21

R15 000

R15 000 

Child age 6 – 13

R7 500

R7 500 

Child under age 6

R3 000

R3 000 

  This benefit ceases at resignation, dismissal, retrenchment or retirement. It is also not applicable to members who have passed their normal retirement age.

New employees who want to take out this Additional Voluntary Funeral Assurance benefit must do so within 3 months of joining the company. Alternatively, they will need to wait until the next renewal period, which takes place each January. 

Membership may also only be cancelled at the renewal date, which takes place each January. 

Quick News

Contributions
16 Feb 2021
TFG Retirement Fund

Rule changes relating to your member contributions
Contribute more to your retirement
16 May 2017
Pay less tax by making Additional Voluntary Contributions to your retirement Fund.
Update your Nomination of Beneficiary form
21 Nov 2016
Find out how to nominate your beneficiaries.