Over R42 billion of retirement money remains unclaimed, which – according to the Financial Sector Conduct Authority (FSCA) – accounts for 1.8% of all retirement money. Over the last few years, efforts have been made by administrators of retirement funds and the FSCA to trace individuals and family members who are owed retirement benefits. In the last five years, R18 billion was paid to 680 000 members, with an average amount of R26 787 per member.
However, it appears that the easy work has been done and it is becoming more challenging to trace beneficiaries due to a lack of documentation. In cases where members or their beneficiaries have documentation such as pay slips or member statements, these claims have mostly already been paid. Tracing agents hired by the fund administrators have managed to find the members, or the members have already approached the retirement fund or FSCA due to the high level of awareness around unclaimed benefits. Nevertheless, a problem does remain in rural areas where the lack of formal addresses has made it difficult for tracing agents to find the members.
The challenge arises for members or beneficiaries where documentation is not available or where it is difficult to identify the member. This is especially true for migrant workers who make up a large percentage of the workforce. If they were employed either as illegal immigrants, or were not willing to provide their actual names and identification numbers, the fund would not have their accurate details, making it difficult to trace them or their beneficiaries. It is also problematic for their beneficiaries to prove their claim. The FSCA raised a concern that this practice of not having sufficient member details continues in the mining, motor, metal and engineering industries.
Apart from poor record-keeping by fund administrators, the FSB says members themselves are not providing the fund with updated contact details for themselves and their beneficiaries. There is also a trend for members not to inform their dependents that if they die in service, there may be benefits payable or to inform the dependents which institution to contact.
If you believe you are entitled to an unclaimed benefit, before you get too excited, be aware that over 1 million members (26.46%) have an unclaimed benefit of less than R250. In these cases, the member most likely had already claimed their funds but some interest or a late payment had accrued to their account subsequent to the withdrawal.
How to investigate a claim
Do not pay someone money to trace the money for you, because the FSCA offers such a service for free. The FSCA says that there are “various unscrupulous operators who persuade members of the public to pay them an amount (eg, R1200) to trace their money. These are often empty promises, and there is absolutely no guarantee that the person paying that amount is due any money.”
Your first query should be with the retirement fund or HR department of your former employer. Only if you do not know which fund you or your family member belonged to, should you contact the FSB.
The FSCA has launched a search engine on their website for members of the public to ascertain if there are any possible unclaimed benefits due to them. This facility can be accessed either through the FSB website or by sending an e-mail or fax. An SMS line will be launched by the end of September.
Over and above this, members can still send a letter, contact the toll-free call centre or visit the FSB Office to obtain assistance. Should there be any possible benefits identified during the enquiry, a person will be provided with the relevant contact details of the fund or administrator to lodge a formal enquiry. These services are provided by the FSB free of charge.
Contact details:
Website: www.fsca.co.za
Toll-free number: 0800110443 / 0800202087
Fax number: 0865781183
Keep track of your money
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This article first appeared in City Press.
Good day
My name is wendy and am trying to claim my late moms unclaimed benefits, she worked for Blue Ribbon Meat Corp Back in the 1987 and I think she was fired in 1992 or 1993 not sure. I have an IRP 5 for period 1987/88 as proof of membership. I tried SACCAWU, OLD Mutual and Pick N Pay Head office for information but they are unable to help me. Please can you advise what next I should take to see if there is still benefits unclaimed, I tried the FSCA search side but i still cant find anything. when my mother was fired she did not claim any of her money. They are unable to pick her up with her ID No. Can you please advise
Unfortunately it seems you have tried every avenue that I am aware of.
Hi I’m Edith Simangele Mnisi,I’m hear needing help.my father past on when we where young me and my older brother. My aunt called me some other day and tell me to her at Johannesburg when I arrived she was angry, she gave me a small piece of paper with numbers and tell me to tell my brother to go and get our fathers money and she didn’t tell us where but we know that our father was working at autotrade tank around honeydew. The thing we where young.we leave it.so when we were getting older we start to ask for it then my brother passed on to.so now I’m alone I need help please help me
If you have your father’s ID you can use the search engine https://www.fsca.co.za/Customers/Pages/Unclaimed-Benefits.aspx
I was working at pick n pay hyper Centurion.i never received my profident money from Saccuwu
you would need to contact Saccuwu
My late father died in 1976 working in steel company I was only 3yrs then how can I trace if he had unclaimed funds
The details are in the article
Hi my Name is Maria and my mother was working as a cleaner at Pretoria Heart Hospital and deased before he can claim his monies. Mother was Magreth Moshokwa
Hey my farther my late father worked at baragwanath hospital many years ago and he died never claimed his money can you help me trace the money he’s name is Louis mawelele from mokopane
Any benefits he had would have been with GEPF – you can go to their website https://www.gepf.gov.za/unclaimed-benefits/
Hello Mrs Maya, please help me. My grandfather worked in three different mines in his days. Since he left there are no benefits he ever received, his claim shows an active unclaimed benefit meaning it is not yet claimed. I don’t what process to gollow since I only have his Id document and death certificate. Please guide with a process to follow.
This article has a contact person https://www.gov.za/speeches/planning-monitoring-and-evaluation-assists-ex-mineworkers-receive-their-unpaid-financial?gclid=Cj0KCQjw8fr7BRDSARIsAK0Qqr7tlnM8IZVmvhvSQPhKxU4Q4mb37iLYLxKcb9vRtFyP8rY5FiZwaGoaAlcEEALw_wcB
Hi my name is Rose Kekana the wife to Titus Madimo Kekana received a call from other people that there’s some money that should be paid to my husband but hence he is no longer alive the willbe returned to the funds
you need to be careful. This could be legit or a scam. Who did your husband work for and who called you? Read this https://mayaonmoney.co.za/2023/01/check-whether-that-tracing-agency-is-legit/
Hy ive worked for company for 7 years en I resign ,so I’ve never claimed any money from that company.so plz can u help me get my profident fund and UIF.
We don’t assist. You would need to speak to the HR department of the company or contact the FSCA as per the details in the article
Could I possibly send you details of my fathers documents relating to the building industry, we found paperwork of his after his death
I cannot assist – you need to contact the FSCA as per the article
My father work for consol glass from 1974 to 1997 never got all his money omly some what must i do to check
You would have to contact Consol
I sued to work for Gray security services from 1987 to 1991 when I left as an inspector at the time the legislation did not allow us to take the pension money. Subsequently, try security I’m told merged with some of the companies and I could not find my pension how can i find it .my ID number is 6203105920080
The details of the FSCA are in the article
Hi there Maya, my friend’s mother has passed on, there was a will left behind stating that he is the beneficiary. He’s been going to Alexandra Forbes to see if he could get some help. He went there for 2 Months or so and still battling to get assistance. Please help.
Hi my mother never received her provident fund how can I claim it because she not alive anymore
Via the contact details in the article
Hi there. my father worked at Ciskei Border Buses, Transport Corporation. He died in 1986, he never received any pension money due to him. Is it possible to trace this?
you can try the FSCA – they may be able to point you in the right direction.The details are in the article
Hi my mom doesn’t claim his
money I’m not sure I’m writing in aright place and she’s passed away now
Does this relate to a pension or life cover? And if a pension who did she work for?
My father passed away a few years ago and I know he had a lot of different shares, which went missing after his death. Is it possible to track down shares with his id?
I suggest you start with Computershare https://www.computershare.com/za
Hi,can u u help me.
My father used to work at spoornet (railway) then he went to work for municipality, but now my father passed away and we didn’t received any money from Spoornet (railway).
You will have to go to Transnet to ask them
Hi my father worked for Spoornet (railway) by that time from 1953 until 1981then he went and worked for municipality until 1990 and he passed on 1991we never received anything from Railway and municipality tell me where to start please because my mother went to railway to check but they told her that my father had no money and from municipality she received R9000 only please help.
You can try the FSCA as mentioned in the article – they could tell you who you need to approach
My daughter in law never received benefits of his late father who was working at Telkom. She was young at the time. Where can she go and check her benefits?
The HR at Telkom would be the best place
Hey my name is Lebo mawelele my father worked at baragwane hospital many years ago he is now late and has not claimed the money so need your help how claims the money i only have death certificate of my father and my mother
That would fall under GEPF https://www.gepf.gov.za/contact-us/
My mother s husband worked for Ekurhuleni Municipal and passed away in 1971. My mother never got or claimed anything. We have his death certificate. I want to assist my mother to claim his funds.
You would need to contact the HR at Ekhurhuleni
Hi my name is theresa my father past away in 2001 he work on a farm till date we has not recievef any monies my mom recently past on as well can you please advice me to what to do or who to contact thank you
The details of the FSCA are in the article
My dad would also like to claim his father’s unclaimed benefits from Iscor company where he used to work for in Pretoria west. He passed on 1973. He has only his death certificate . Thank you.
Hi m late father worked for many different companies including the municipality am not sure which companies paid and which didn’t how do I trace his pension I only have his ID and some company names
The details of what to do are in the article
MY MOTHER WAS WORKING BY VREDENDAL HOSPITAL FOR 20 YEAR AND MORE AS A NURSE SHE IS DISCHARGE THE A LUMP SUM AND RECEIVE A MONTHLY PENSION.THE REDRESS OF DISCRIMINATORY PENSION PRACTICES PSCBC RESOLUTION 2 OF 2018. IS THEIR ANY BENEFITS WHAT SHE CAN CLAIM
You would have to ask the GPAA – Government Pensions Administration Agency
My grandfather was working for department of health at HILLCREST HOSPITAL so we as the family would like to find out if his money was claimed or not. We need to to know where can we start to do a follow up in order to get the closer. We have his ID and death certificate.
The details are in the article under “how to investigate a claim”
Hi my farher past away in 1999 he was registered in the building industry MBA Transvaal in 1975 and work until he past away as the only child I need to know if there is any money he left for me I only have his I’d and death certificate I’m not sure if he work at Stock&Stocks Steyns Constrution and Marion Roberts thats what somebody told me. I all ready tried all the ather places like Alexander Forps. Fedsure and Libety and they could not find anything. .
the article has the details for the FSCA
My grandfather was a Underground Native Labourer at Luipaardsvlei Estate &G.M. Co Ltd (Incorporated In England) Around the 1950″s i would like to know who to find out if there”s if he has any unclaimed benefits
I suspect that will be very hard to find out. You can try the contact details in the article
My father had various types of policy I fell like the is still more unclaimed funds how can i check
The details are in the article
Hi can you help me to see if I have unclaimed pensions benefits due. I worked for the SAAF for 8 years then transferred tot the dept Posts and Tellecoms for 5 years before workings for a private company.
You have to contact FSCA for that info
My father pass away 10 years ago, he was working as truck driver. How do claim his surplus?
The links to FNB website is not working…..
This is quite an old article and the FSB is now the FSCA – this is the website https://www.fsca.co.za/Pages/Default.aspx
Hi,
I lost contact with my Godmother after my mother passed. She never had children or family. I know she passed on. How do I find out out if I was in her will.
She was pretty wealthy and always used to spoil me.
She was Italian but married a S African and after the war they moved to SA.
They had a furniture factory in Zambia.
My family changed addresses during that time and she died around the same time.
I know this is a strange request…. but I have always wondered about this.
How do I go about finding this out?
Thank you.
Interesting question, I have asked FISA to assist
Maya, who is FISA? What is the full name?
Thanks….
Sorry for using an acronym 🙂 it is the Fiduciary Institute of SA https://www.fisa.net.za/
WHAT HAPPEN IF THE MEMBER WENT MISSING FOR 10 YRS AND HE HAVE UNCLAIMED FUNDS?
You would need to contact the company
How do I claim the money I was suppose to have claimed after winning the case against 3 giants namely eThekwini municipallity, Thala bank and TBDC. This 19 years ago.
Sorry, I don’t know about that
How can I check unclaimed
the information is in the article
I worked for a Law Firm for 10 years, l was contributing towards a Provident Fund for that working period. So l would like you to help me find out if l do have unclaimed funds.
You need to contact the law firm and get the details of the administrator
am working ekurhuleni municipality from 1997 to 2016 can i qaulify for surplus
I can’t answer that. You need to contact them
Good day
I worked for Unilever from 1999 to 2006 do I qualify for surplus.
You need to ask Unilever HR
How will i know if my father have any unclaimed policies?
That is a tricky one. Insurers are supposed to check against home affairs if people have deceased, but they also need up to date beneficiary information. An adviser would have access to the system all insurers use to find policies of clients
My husband was working at Welkom mines b4.. we need to know about where to start coz he worked 7 years
Hi
My father who is now deceased, worked for local municipality.form were given to me to fill them, but I have that felling that whey never went where they had to go…that is municipal surplus.and maybe the money is payed to someone by mistake.can you help me in this regard, to find if the fund still exist.
good day
can you claim if you worked in the printing industry?
WANT TO KNOW ABOUT MY PENSION MONEY UNCLAIMED
The details are in the article
There is a person by the name of Leon who says people should pay money to claim. Is this legal? Do you know about this?
Definitely not – rather contact the FSCA yourself
Good day
I worked for the following people and would like to know if there is any surplus money for me?
Postoffice
Volkskas Bank
ABSA Bank
Standard Bank
Clayville Bricks
Consol Glass
Mutual and Federal
Pioneerfoods
Early Bird TV Services
This is a personal finance blog not an admin centre. You will need to contact the administrators of the pension funds for those companies.
Hi
What happens when your parents worked for trans-net a while ago and passed away but the money was never claimed? Been dead for 30 years.
Most people who claim their unpaid pension fund, they are not access to internet, therefore they are unable to trace their claims. WE offer free internet access to help them to trace their benefits.
If ive already used a consulting agency to track a surplus fund.how do i find out if the fund was paid out as its been 2 years and i have not recieved a response from the agents.
how to check or claim surplus money
You have to go to the administrators of the pension fund. If you don’t know who that was then ask the company you worked for
So i realised that many people are not aware of this imformation nor having access to this . how i can help them or u as a public person ineed of helping others
Could you plaese check if there is any unclaimed benefits for me
You would need to contact the FSB for that information
My father used to work for trident steel and MSC logistic companies… I cant find him at Metal…. and Braamfontein… Is the any place i can go… He died… 2008 can u pls help
You need to apply via the FSCA as per the article