The conundrum of unclaimed retirement benefits held by South African Retirement Funds
Authors Clement Marumoagae
Affiliations: Senior Lecturer, School of Law, University of the Witwatersrand
Source: Industrial Law Journal, Volume 39 Issue 4, 2018, p. 2107 – 2130
This article examines the manner in which retirement fund benefits belonging to former retirement fund members or their beneficiaries are dealt with in South Africa. In particular, it highlights the difficulties associated with tracing former members and their beneficiaries who are entitled to receive these benefits. Relevant legislation dealing with unclaimed benefits in South Africa is discussed with a view to assessing whether it provides any solution to the challenge relating to the payment of these benefits. The article advances the argument that there is a need to establish a central unclaimed benefits fund mandated to address the challenge of unclaimed benefits in South Africa.