×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

The National Treasury's growing list of commitments — such as funding struggling state-owned enterprises like Eskom and finding the means to deliver on the promise of free tertiary education — threatens the fiscus and raises the prospect of an IMF bailout. With the world's leading credit ratings agencies keeping a close eye on its spending habits, the treasury will be hard-pressed to seek out deficit-neutral methods of meeting these obligations in next month's budget. A pool of money that may help it plug the gaps is the unclaimed pension benefits pile, which, according to the Financial Services Board, totals more than R43-billion. The funds are unclaimed benefits owed to South Africans and migrant workers from the rest of the continent. Poor administration, misinformation, relatives ignorant of the benefits or the primary beneficiaries forgetting about the money altogether are some of the reasons the cash has been accumulating for decades. A portion of the funds will likely never b...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.