To add a new beneficiary click NEW.
Note:
This can also be accessed by selecting the New Investor Details menu option.
For more information, refer to
Products
Beneficiary Fund
New Investor Details
The user can also create a Service Request in My Work with a Process of BENEFICIARY INV, Activity Name of ADD BENEFICIARY and with the Scheme Code and Membership Number of the Beneficiary Fund Membership with a Status of DECEASED and a Status of OPEN.
When the Service Request is selected and the Process Service Request menu option is selected, the Investment Detail - Beneficiary - Fund (name of the Fund) screen will be displayed with the details of the Membership captured.
Capture data as follows:
Note:
The following fields make use of the - Enter search - facility:
- Deceased
- Financial Advisor
- Administrator
For more details refer to Enter search under Person List (Beneficiary) above.
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Transferring Fund Details |
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Administrator |
Select a value from the drop-down list.
The system will default the value for Administrator to the user capturing the Member Details if nothing is selected.
The completion of this field is Mandatory. |
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Transferring Fund |
The schemes from which money will be transferred to the beneficiary fund. Select the required scheme from the drop-down list, or select - Enter search - .
The completion of this field is Mandatory. |
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Trust Details |
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Reference Number |
The member's reference number. If this field is left blank, a number will be generated by the system.
Note: When beneficiary records are created on the beneficiary fund the system will automatically create the beneficiary record with a membership reference number of the deceased member’s reference number followed by an underscore and a number starting at 1 for each beneficiary. |
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Membership Status |
Select BENEFICIARY from the drop-down list.
The completion of this field is Mandatory. |
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Relationship |
Select a value from the drop-down list.
Examples: MOTHER BROTHER |
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Guardian |
Click the LIST button to flow to the Person Search screen and select a Guardian from a list. |
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Relationship to Guardian |
Select a value from the drop-down list.
Examples: FATHER GRANDCHILD SON IN LAW etc. |
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First Name |
The first name of the person who is the Guardian of the beneficiary. |
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Date of Birth |
The date of birth of the person who is the Guardian of the beneficiary. |
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ID Number |
The ID number of the person who is the Guardian of the beneficiary. |
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Start Date |
The start date of this membership. The completion of this field is Mandatory. |
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End Date |
The end date of this membership. |
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Payment Reference |
Text on Notation record with a Note Type of MEMBER NOTE and a Note Header of PAYMENT REF where the Membership Status is DECEASED. |
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Investment Amount |
The total amount invested. |
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Personal Details |
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Surname |
The member's surname.
The completion of this field is Mandatory. |
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First name(s) |
The member's first names. |
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ID Number |
The member's identity number. |
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ID Type |
Select the applicable value from the drop-down box. |
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Date of Death |
Death Date on Natural Person record for the Membership with a Membership Status of DECEASED |
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Pension Amount |
The amount on the Member Values record with a Type of BENEFICIARY FUND and Subtype of RF PENSION AMT |
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Title |
Select the member's title from the drop-down box.
The completion of this field is Mandatory. |
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Initials |
The member's initials.
The completion of this field is Mandatory. |
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Date of Birth |
The member's date of birth.
The completion of this field is Mandatory. |
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Marital Status |
Select the member's marital status from the drop-down box.
The completion of this field is Mandatory. |
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Gender |
Select the member's gender from the drop-down box.
The completion of this field is Mandatory. |
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Language |
Select the member's language from the drop-down box. |
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Employee Number |
Text on Notation record with a Note Type of BENEFICIARY and a Note Header of EMPLOYEE NUMBER linked to the Membership with a Membership Status of DECEASED. |
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Pension Amount |
The amount on the Member Values record with a Type of BENEFICIARY FUND and Subtype of RF PENSION AMT |
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Allocation Details |
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Percentage Allocation |
The percentage of the death benefit that each Beneficiary must receive.
This field will only be enabled if the Membership Status is BENEFICIARY. |
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Initial Payment Percentage |
If a portion of the Beneficiary’s allocation must be paid to the Beneficiary at the time that the investment amount is processed then a value must be captured in this field.
If the full amount of the Beneficiary’s allocation must be paid to the Beneficiary at the time that the investment amount is processed then a value of 100 must be captured in this field.
This field will only be enabled if the Membership Status is BENEFICIARY.
Note: Either a percentage or an amount must be captured. If both are captured, then the following Error Message will be displayed:
Click OK to remove the message and capture either a percentage or an amount. |
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Initial Payment Amount |
If a portion of the Beneficiary’s allocation must be paid to the Beneficiary at the time that the investment amount is processed then a value must be captured in this field.
This field will only be enabled if the Membership Status is BENEFICIARY.
Note: Either a percentage or an amount must be captured. If both are captured, then the following Error Message will be displayed:
Click OK to remove the message and capture either a percentage or an amount. |
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Categories |
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Termination Age |
Percentage on Member Values record with a Type of BENEFICIARY FUND, Subtype of TERMINATION and Subtype Detail of TERMINATION AGE |
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Termination Date |
Period End Date on Member Values record with a Type of BENEFICIARY FUND, Subtype of TERMINATION and Subtype Detail of TERMINATION DATE |
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Benefit Group |
Select the applicable benefit membership group from the drop-down list. The completion of this field is Mandatory. |
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Investment Group |
Select the applicable investment membership group from the drop-down list. The completion of this field is Optional. |
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Payment Status |
Click the drop-down list to display a list of Payment Statuses from which to select a status.
Current values are:
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Regular Payment Type |
Select the regular payment type from the drop-down box. Current values are:
DISCRETIONARY FIXED PAYMENT MAX OF INTEREST NO PAYMENT |
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Tax Status |
The status of the policyholder’s tax. Select a status from the drop-down box. The following values may be selected: - TAX EXEMPT - UNTAXED - TAXED - UNTAXED – EXEMPT FROM DIVIDENDS WITHHOLDING TAX - TAXED - EXEMPT FROM DIVIDENDS WITHHOLDING TAX |
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Contribution Group |
Select the applicable contribution membership group from the drop-down list. The completion of this field is Mandatory. |
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Payment Group |
Select the applicable payment membership group from the drop-down list. The completion of this field is Optional. |
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Non-payment Reason |
If the Beneficiary is still due payment(s), click the drop-down list to display a list of Non Payment Reasons from which to select.
Current values are: NO DOCUMENTS FAMILY DISPUTE |
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FICA Indicator |
Select the applicable value from the drop-down list. The following values may be selected:
APPROVED EXEMPT FOCA COMPLIANT NOT APPROVED PENDING |
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No Ad hoc payments allowed |
Click the tick-box to indicate whether or not ad hoc payments are allowed. |
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Administration Details |
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Financial Advisor |
Select the financial advisor from the drop-down list.
The completion of this field is Optional. |
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Administrator |
Select the administrator from the drop-down list.
The completion of this field is Optional. |
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Other Account Details |
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Other Accounts |
Member Values record with a Type of EDUCATION ALLOW, Subtype of REASON and Subtype Detail equal to the value selected (MULT BEN ACCOUNTS / TRUST ACCOUNT) |
Click SAVE. To clear the fields of any data captured, click RESET. This must be done before the record is saved.
When SAVE is selected, the system will not validate that the sum of the percentages for all of the Beneficiaries is equal to 100. If there are no validation issues, the Beneficiary record will be created and the JU3EQ Amend Beneficiaries screen will be displayed with the newly created Beneficiary in the list.
The system will flow to different screens depending on whether Initial Payment Percentage or Initial Payment Amount was captured on the Member Details screen.
If an Initial Payment Percentage or Initial Payment Amount was captured on the Member Details screen, the system will display the Member Details screen to enable the capture of the Initial Payment Details.
Once the Initial Payment Details have been captured or if no Initial Payment is required, the Amend Beneficiary Allocations menu option must be selected again to display the JU3EQ Amend Beneficiaries screen.
Note:
The existing Beneficiaries’ percentages must all be adjusted before the additional Beneficiary records can be captured so that when the last additional Beneficiary record is submitted the validation can be done to ensure that the total allocation does not exceed 100%.
If the sum of the Percentage Allocation for all of the beneficiaries linked to the deceased is now not 100 %, the following message will be displayed:
The sum of the beneficiary allocations is greater than 100%. Please re-adjust the beneficiaries allocations on the Amend Beneficiaries screen.
Click OK to remove the message. Adjust the allocations for the beneficiaries linked to the deceased.
The following message will now be displayed:
Are you sure you want to save your changes?
Click OK to confirm.
The screen will display the message Member details saved.
Once the changes have been completed, the following message will be displayed:
The update completed. If the member record was not updated, there might be update error messages in the log for program SJU3DY
Check to see that the beneficiary has been added. If the beneficiary was not created, refer to the Log to view any error messages. Click OK to remove the message.
If the beneficiary has been added, the system will display the JU3EQ Amend Beneficiaries screen and with the new beneficiary.
On the Investment Detail – Beneficiary screen, when the Membership Status is BENEFICIARY, the Deceased field will be displayed.
Click the LIST button alongside the Deceased field.
The Deceased Member Search screen will be displayed.
This screen displays a list of members with a Membership Status of DECEASED.
To search for a deceased member, capture one or more of the following search criteria in the appropriate fields:
- Surname
- Initials
- Date of Birth
- ID Number
- Reference Number
Click SEARCH.
The deceased members matching the search criteria will be displayed in the lower half of the screen.
To display a list of all Memberships for which the Membership Status is DECEASED, click LIST ALL.
A list of all deceased member(s) will be displayed in the lower half of the screen.
To select a deceased member, click on the member and click SELECT.
The Reference Number of the deceased member selected will be displayed in the Deceased field on the Member Details screen.
