A 53-year-old woman’s attempt to claim a share of her late boyfriend’s R21 million provident fund has been rejected by the Financial Services Tribunal (FST). Fathima Sayed had been in a romantic relationship with A Singh for 17 years before his death in July 2021.
After Singh’s passing, Old Mutual Superfund Provident Fund allocated his two daughters 50% each from his R21 million provident fund. Sayed was not included in the allocation, prompting her to seek relief from the Pension Fund Adjudicator (PFA) and later the FST.
Sayed argued that she was Singh’s dependent, and their relationship was akin to marriage. She claimed that Singh provided for her financially, paying her living expenses, and even assisted her with a R700,000 payment to settle her bond.
However, Old Mutual countered that Sayed had signed a cohabitation agreement in February 2017, waiving her rights to claim pension benefits from Singh. Although Sayed claimed she was no longer bound by the agreement following Singh’s death, the FST disagreed.
The tribunal found that Sayed had received sufficient financial support through third-party payouts and other provisions. She had received a monthly R35,000 from Singh’s will, a lump sum payout of R7 million from a life insurance policy, and an immovable property valued at R1.7 million.
Furthermore, the FST noted that Sayed had received over R5.2 million from another pension fund in November 2023. The tribunal concluded that Sayed had been adequately provided for and was now in a stronger financial position than when Old Mutual made its decision.
The FST dismissed Sayed’s application, finding that she had not presented substantial evidence to demonstrate her alleged hardship. The ruling brings an end to Sayed’s bid for a share of Singh’s R21 million provident fund.
