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Contribution

Withdrawals, Transfers and Refunds

A Member may withdraw from M-ASCA by way of:-

Registration Fee and Monthly Contributions

Next of Kin

Every member shall nominate in writing person(s) to whom, on his/her death; his/her savings, deposit or any other interests shall be transferred.

Appointment of a next of kin by a member shall be by filled while registering for membership to M-ASCA and their contacts filed too.

The name of the next of kin shall be kept under seal.

A member shall have the right to change his/her next of kin, or other details under the update records module under my account*

Death

On notification to M-ASCA of the death of a member by an officer of the Administration or Relative, the next of kin shall be paid the value of the deceased member’s savings or interest, less any sums due by the latter to M-ASCA, as soon as possible after presentations of the required documents.

The beneficiaries shall be paid the value of savings in accordance with the Management committee resolution in force.

For speedy processing of refund of deposits to the next of kin of a deceased member, the following information must be provided within 14 days after the death of member:-

Payment shall strictly be by the instructions made by principal member.

Payment to the next of kin shall be done in the presence of at least two witnesses representing the Office and two other Witnesses for the member; all of whom shall append their signatures on the witness form.