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Unclaimed Pension and Retirement Funds Benefits in South Africa

There are many reasons why billions of rands are still unclaimed. These include the failure of employers and funds to provide information about benefits, poor administration, the fact that many foreign workers who are owed benefits leave the country soon after their work permits expire, the failure of members to inform their dependants that they can claim benefits on their death, and the failure of funds to trace members. Out duty is to help and inform the beneficiaries to claim their benefits.
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Unclaimed Pension and Retirement Funds Benefits in South Africa

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There are many reasons why billions of rands are still unclaimed. These include the failure of employers and funds to provide information about benefits, poor administration, the fact that many foreign workers who are owed benefits leave the country soon after their work permits expire, the failure of members to inform their dependants that they can claim benefits on their death, and the failure of funds to trace members. Out duty is to help and inform the beneficiaries to claim their benefits.

CONTENT

This web page empowermentsdeals.blogspot.com states the following, "The Financial Services Board FSB has moved to clarify its efforts to resolve the ballooning problem of unclaimed pension benefits, even as civil society campaigners step up a drive to help workers to reclaim billions owed to them." We saw that the webpage said " By 2016, more than R42-billion in unclaimed benefits had been amassed in the pensions system, the FSB said at a media roundtable earlier this week." It also said " Trace and Track Your Pension Money here."

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