Newsletter • Quarter 2 • 2026
Understanding Your Death Benefits
Financial support for your family
If you pass away, your loved ones may face many expenses, such as funeral costs, debt repayments, and your children’s education. The Fund provides several benefits to help support your family during this difficult time.
Group Life Assurance Benefit
By default, you are covered by the Fund’s Group Life Assurance benefit.
The amount of cover you receive depends on your employment category.
- Non-TCOE employees receive 1 × your annual pensionable salary.
TCOE salaried employees receive cover equal to 4 × your annual pensionable salary.
Non-TCOE employees can purchase up to 7 × your annual pensionable salary additional cover.
TCOE salaried employees can purchase up to 4 × your annual pensionable salary additional cover.
This benefit is paid together with your retirement fund savings.
Employer-Provided Life Insurance
- pays 2 x your annual pensionable salary,
- is tax-free,
- is paid according to your beneficiary nomination form.
Funeral Benefit
Woolworths provides a funeral benefit of up to R30 000 to help cover funeral costs. The benefit is paid on a scaled basis and covers the employee and eligible immediate family members.
You must nominate two trusted people to receive this benefit. The money will be paid to one of the nominated people and must be used towards your funeral costs.
Woolworths Memorial Education Fund
TCOE employees: This valuable benefit helps pay school and tertiary education costs for eligible children after your death.
Non-TCOE employees: A benefit of R20 000 per child is payable, up to a maximum of 5 children.
Review your beneficiaries.
Make sure they reflect your wishes.
Complete Your Nomination of Beneficiary Form
It is important that you keep your Nomination of Beneficiary Form current and up-to-date. You must update your beneficiaries whenever your personal circumstances change