South Africa has an interesting conundrum. On the one hand, there is a huge pot of unclaimed benefits (R47 billion!) and on the other hand, citizens who desperately need an income. The solution seems simple. Find the beneficiaries and pay out the money. Unfortunately, it’s complicated.
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The FSCA’s 13 Recommendations for addressing unclaimed assets in South Africa

The FSCA’s September 2022 discussion paper builds on National Treasury’s work to date in respect of unclaimed retirement benefits in South Africa with the intention that these unclaimed assets should be effectively distributed to their beneficial owners. Secondly, the paper seeks to contribute towards industry debate on unlocking unclaimed assets within the financial sector for social, environmental and/or developmental initiatives and aims to foster a conversation about how lost accounts and unclaimed assets should be treated.