South Africa. Billions unclaimed from pension funds
Takalani Lukhaimane of the Financial Services board says over R50-billion worth of pension funds have not been claimed by the rightful beneficiaries.
Read also Will emigrating South Africans be allowed to withdraw their retirement savings?
The Financial Sector Conduct Authority is urging South Africans to go online through the FCSA database to check if they qualify.
Read also South Africa. Deflation puts brakes on retired SA public servants’ pensions
“We have various ways in which people can make an enquiry, one is the database that you would submit an electronic enquiry, so you would complete a form online and the form will require you to provide basic information, which will be protected.
“The system would then automatically check if there is a benefit that is potentially payable to you because the money doesn’t actually sit with the FSCA, they sit with the retirement funds to which the person used to belong,” she said
Read amore @ENCA
