Liberty Corporate managing executive Tiaan Kotze said the problem of unclaimed benefits was decades old and not unique to SA.
He said workers often left employment unaware they had pension benefits owing to them.
The administrators responsible for safekeeping fund members’ personal data often kept poor and incomplete records.
For example, many members were identified by their initials and surnames, rather than their full names. Nor, apparently, was there much effort to keep a record of forwarding addresses, which was a particular problem when workers went back to the rural areas or neighbouring countries. They simply disappeared off the radar.
Benefits Exchange allows those who believe they may have unclaimed benefits to do a free search, and claim a 12% success rate on search requests. FSCA also has an unclaimed benefits database search facility. – Republished from Groundup. org.za
Artists perform on a horse at Puerta del Sol Square yesterday during the Ifema Madrid Horse Week.