Protektor Claims Booklet for members - Old Mutual

Protektor Claims Booklet for members
When you leave the Protektor Preservation Pension or Provident Funds, your retirement
savings become payable to you or your beneficiaries as different types of benefits, which you
need to make a claim for in order to receive. The way these benefits are paid out depends on
whether you make a full or partial withdrawal from the fund, retire, leave as a result of ill
health or disability, transfer your money elsewhere or if you pass away.
What makes up a benefit?
Your benefit value will be equal to your total accumulated credit in Protektor. Your accumulated
credit is made up of your initial lump-sum investment plus investment returns, plus additional
amounts received from the initial transferor fund (the fund your money was originally in prior to
being transferred to Protektor) if any, less any partial withdrawal which may have been taken, less
any applicable upfront costs and recurring fees.
Below we have listed exactly what information and documents we need to pay your claim for a:
■ Retirement Benefit,
■ Disability Benefit,
■ Withdrawal benefit or
■ Death Benefit Claim.
Please make sure you provide EACH document below, filled in correctly, as incorrect or
insufficient information can hold up the payment of a claim.
Retirement Benefits
When you retire, you will have to complete a Protektor Retirement Advice Claim form. You will also need
to provide:
■ Fully completed and signed Protektor Retirement Document clearly stating the amount to be taken
in cash.
■ Copy of the fully completed and signed compulsory annuity application/proposal form and banking
details to be used for the transfer of the annuity funds.
■ Certified copy of ID document showing the original signature and stamp of a Commissioner of Oaths
or the SA Police and stating that it is a true copy of the original.
■ Copy of the Final Divorce Order and settlement agreement (if applicable).
You should then return these documents to your nearest Old Mutual branch or directly to:
Protektor Fund
PO Box 1
Mutualpark
7451
Protektor Claims Booklet
1

Disability Benefit (Ill-health retirement benefit)
On disability, you must complete a Protektor Declaration of Disability
form. You will also need to provide:
■ The originally completed Declaration of Disability, which must be
stamped and signed by your doctor/specialist.
■ A letter from the doctor/specialist confirming the exact nature and
seriousness of illness. This information must be on the doctor’s
letterhead/stationery and must be stamped and signed by the
doctor as well.
■ A letter from your employer confirming that your went on early
retirement due to being permanently incapable of carrying on your
occupation due to sickness, accident, injury or incapacity through
infirmity of mind or body. It should also include the exact date when
this event occurred and must be done on a company letterhead.
■ If the you are unemployed, and have not retired (as per point
number 3 above) you must supply an originally certified affidavit
confirming that you are unemployed and the exact date when you
last worked must be specified. Please note that this document must be stamped and signed by a
Commissioner of Oaths/Police Officer to be regarded as valid.
■ Certified copy of your ID
■ Form D
■ The retirement form must be completed in full
■ Your bank account details
■ Copy of bank statement as proof of account details
■ Your tax number
■ Contact telephone numbers
■ If divorced, a copy of the Final Divorce Order and settlement agreement
■ Copy of completed compulsory annuity application form (unless, as is an option for Provident Fund
members, a lump sum cash withdrawal was made)
You should then return these documents to your nearest Old Mutual branch or directly to:
Protektor Fund
PO Box 1
Mutualpark
7451
Protektor Claims Booklet
2

Withdrawal Benefit Claims
If you want to withdraw from Protektor you should complete a Withdrawal Advice Claim form. You will
also need to provide:
■ Withdrawal Advice form including your own banking details and tax details.
■ Certified copy of ID document showing original signature and stamp of a Commissioner of Oaths or
the South African Police and stating that it is a true copy of the original.
■ Copy of latest payslip (or affidavit if unemployed or not in SA). Salary slip should not be older than 3
months. In the instance where you are self-employed, written confirmation of annual taxable income
is required or a copy of your last tax return must be submitted.
■ Copy of the Final divorce Order and settlement agreement (if applicable).
■ Copy of cancelled cheque or bank statement as proof of banking details.
■ If you are older than 55 years and still wish to withdraw from the fund we require a written affidavit
stating that:
- You are aware that you may retire
- You are aware of the tax implications of the decision to withdraw. The affidavit must be stamped and
signed by a Commissioner of Oaths or Police Officer.
These documents should be submitted at your nearest Old Mutual branch.
Death Benefit Claims
Your dependants or nominee must complete and submit an original Protektor death advice form. They
will also need to provide:
■ Original certified copy of the deceased member’s death certificate.
■ Police inquest report or Police declaration) If death due to unnatural causes).
■ Original certified copy of deceased member’s ID.
■ Original certified copy of spouse’s ID.
■ Original certified copy of marriage certificate.
■ If member was residing with a life partner/Common-Law spouse/
married by customary union, an affidavit must be completed by the
partner confirming this fact.
■ Original certified copy of children’s ID’s or birth certificates
(included children from current marriage/association/ex-marriage/
out of wedlock.
■ Affidavits from major children (over 21 years) iro financial
dependency on deceased at time of death
■ Affidavit from spouse confirming deceased’s biological children.
■ Affidavit from spouse confirming financial dependency of all
children.
■ Death Claim form (front page stamped and signed by Commissioner
of Oaths/Police Officer).
■ Bank Details (all dependants and beneficiaries).
■ Form D.
■ Tax reference number (not required if deceased earned less than
R60 000 per month).
Protektor Claims Booklet
3

■ Beneficiary nomination on record.
■ Copy of Will (if no Will, confirmation required that there is none).
■ Copy of Final Divorce Order and Settlement Agreement (If not applicable, must be confirmed on Claim
Form)
■ If the ex-spouse was financially dependent on the deceased in terms of the Divorce Order, he/she
must complete an affidavit confirming this dependency.
■ Executor to complete an affidavit confirming value/solvency of estate/financial status of children.
■ Option Form from spouse/beneficiaries (how his/her proceeds must be paid).
■ If option to purchase annuity has been exercised – Is annuity form completed i.e the type of annuity
to be purchased and from which insurer.
They should then return these documents to the nearest
Old Mutual branch or directly to:
Protektor Fund
PO Box 1
Mutualpark
7451
Standard method of payment:
All benefits will be paid directly into the bank account(s) specified
on the claim forms. It is, therefore, important that you supply the
correct banking details on the claim form – namely:
■ Bank account number.
■ Bank branch code.
■ Name of account holder.
Protektor Claims Booklet
4