The Financial Services Board has launched a search engine to help you obtain any retirement savings that you may have forgotten to claim from a company-sponsored pension or provident fund, or from a retirement annuity that you stopped contributing to and forgot about. This is known as an "unclaimed benefit", and the FSB says registered pension and provident funds are holding unclaimed benefits of about R42-billion. Benefits go unclaimed for many reasons, including the failure of many employers and/or funds to provide members with important information about how to claim a withdrawal benefit if they resign, or are dismissed or retrenched from their employment; the failure of fund members to inform their dependents that, if they die in service, there may be benefits payable to those dependents; and because foreign workers leave the country shortly after the expiry of their work permits and don't have access to mechanisms to claim their benefits from their home countries, according to ...
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