Thousands of former pension funds members stand to gain a substantial windfall. The Financial Services Board (FSB) has embarked on a campaign to assist in the effort to trace unclaimed benefit beneficiaries. An unclaimed benefit is a benefit which, within a period of twelve months from the date it became legally due and payable, has not been paid by a retirement fund to a member or beneficiary. Any person who belonged to a retirement fund and had a benefit due to him or her but who never received such benefit, qualifies. The FSB contacted all pension funds and created a database from 967 funds which indicate that 135 479 members are owed about R970-million.
Those who believe that they qualify for unclaimed pension benefits can use a search facility on the FSB Web site. If you are listed, you will be given contact details for the relevant administrator. Before you call the administrator, please ensure that you have the following information available:
Full names and surname (including maiden surname where applicable)
ID Number and date of birth
Name of Fund
Copies of Benefit Statements or Payslips
Name of the employer the member worked for and how long the member worked at the employer
Why the member did not claim his / her benefit
Contact details
