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'There must be a centralised database to check unclaimed pension benefits'

19 October 2021 5:38 PM
Tags:
Money
pension fund
benefits

John Perlman speaks to Wits Business School's Professor Jannie Rossouw about the difficulties people experience in claiming the funds.

More than R43-billion has not been claimed by pension fund beneficiaries.

The Financial Service Conduct Authority (FSCA) has appealed to people to visit their website and check if they are not beneficiaries.

John Perlman speaks to Professor Jannie Rossouw from the Wits Business School to find out why people are not claiming those benefits.

People who passed away who've left loved ones and are now beneficiaries and perhaps not aware of the fact that benefits can be allocated to them if they can be identified.

Professor Jannie Rossouw, Wits Business School

There are difficult systems in place. I went to the FCSA website to see if some money is owed to me and I couldn't successfully submit the inquiry.

Professor Jannie Rossouw, Wits Business School

We need a centralised database with a simple submission system where it's only necessary to submit an ID number of a living person or a deceased person.

Professor Jannie Rossouw, Wits Business School

Listen to the full interview below:




19 October 2021 5:38 PM
Tags:
Money
pension fund
benefits

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