It’s iniquitous that billions of rand owed to millions of past and present retirement fund members, many in poverty, are left unclaimed or unpaid. Worse is that the numbers appear to be mounting.

The latest annual report of the Financial Sector Conduct Authority (FSCA) for the year to end-March 2019 shows that there were 1,275 retirement funds owing an aggregate of R42.8bn in unclaimed monies to over 4.7-million beneficiaries. Add to them the funds that the FSCA does not regulate, notably the mammoth Government Employees Pension Fund and Transnet funds, for the quantum to become yet heavier...

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