An unclaimed benefit is money that has not been paid to, or claimed by a member within 24 months from the date it became payable, as defined by legislation. These benefits may be owed to individuals who were members of a pension or provident fund or to beneficiaries of deceased members who did not claim what was due to them after employment ended.
Unclaimed benefits can arise for several reasons including:
Resignation, retrenchment or termination of employment.
Death of a member where the beneficiary has not submitted a claim.
Distribution of surplus funds to current or former members.
Retirement from the fund.
You may be entitled to unclaimed benefits if you previously worked for a company, contributed to a pension or provident fund and did not receive your benefit after leaving employment. Beneficiaries of deceased members may also qualify if no claim has been made or payment received after the member’s passing.
To check whether you or someone you know has unclaimed benefits, you can visit the Financial Sector Conduct Authority website using the link below: https://www.fsca.co.za/Unclaimed-Benefits-Search/
If you, or someone you know that has worked in the building industry in KZN and contributed to a pension or provident fund, there may be benefits owing from the KZN Building Industry Retirement Funds. For more information, you can contact Master Builders KwaZulu Natal or send an enquiry via email to surplus@masterbuilders.co.za
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An unclaimed benefit is money that has not been paid to, or claimed by a member within 24 months from the date it became payable, as defined by legislation. These benefits may be owed to individuals who were members of a pension or provident fund or to beneficiaries of deceased members who did not claim what was due to them after employment ended.