This option enables you to capture the investment amount per beneficiary or to capture a single amount for all of the beneficiaries and then automatically split into the individual investment amounts per beneficiary.
In addition, this option enables you to calculate the fees, the net investment amount and the amounts to be invested per investment portfolio and income type. Business transactions will be created on the pre-authorized BT table.
Note:
The deceased member must be captured first and then the details of all of the beneficiaries captured, with the percentage of the benefit that must be invested for each beneficiary.
Death Claims for Linked Beneficiary Funds
In the Benefit payments Process, when a lump sum death claim is processed, the Benefit Payable Update Type is processed on the JU4CN Benefit Payment Process screen. If the scheme being processed is linked to a Trust Fund with a Type of Fund of BENEFICIARY FUND, the system displays the details on the JU3MM Total Investment Amount screen.
For more information, refer to Death Claims below.
If the member selected has a Membership Status of BENEFICIARY, the following sub-menu is displayed:
Select Investment Amount from the sub-menu on the left.
If the member selected has a Membership Status of DECEASED, the following sub-menu is displayed:
