Financial services provider Liberty has announced that as part of its ongoing Unclaimed Benefits Funds tracing efforts, this year, it has identified more than 13 000 people and paid over R105 million to members and beneficiaries who had a legitimate claim.
The group said it has embarked on community outreach programmes in a bid to trace members and beneficiaries.
It said these initiatives make it convenient for potential members and beneficiaries to check and immediately claim any monies owed to them.
Liberty head of unclaimed benefits Kabelo van der Merwe said: “Our up-to-date systems make it efficient for members of the public to check if they may have benefits owed to them. All they need to do is to bring valid proof of their identification.”
According to Liberty, in Mthatha, Eastern Cape, more than 250 individuals have been assisted to claim a total of R769 550 over two days, while in Mpumalanga, the group partnered with previous employers and distributed more than R1.4m in unclaimed benefits to former farm and mine workers in Amsterdam and Witbank.
“In the Northern Cape, R2.8m has been distributed to 178 members and beneficiaries in Jacobsdal, Ritchie, and Kimberley. R2.1m has been paid out to 229 members and beneficiaries in Soweto, Wynberg, and Alexandra in Gauteng Province,” the group said.
In the North West, the company visited Rasimone, Chaneng, Mafenya, and Robega villages and paid out R865 000 to more than 120 former mine workers.
It said the tracing efforts were done in collaboration with local mining companies and traditional leaders from the local communities.
“We appeal to anyone who suspects that a benefit from a previous employer might be owed to them to come forward and check with us. All we need is their identification document. For too long, our clients have not been aware of what’s owed to them, and how to go about claiming it. Please make use of this opportunity to get what’s due to you,” said Van der Merwe.
How to check if you have an unclaimed benefit:
There are various ways to find out if you have an unclaimed benefit due:
- Visit the FSCA website, which has a built-in search engine to check if you are owed any benefits.
- Visit the Liberty website and add your details for a quick and easy check.
- You can call Liberty at 011 558 2997 or visit any of Liberty’s offices or satellite branches located nationwide.
- Send an email to [email protected]
How to claim for benefits?
Once you’ve confirmed that you have unclaimed money, you will be required to provide a completed claim form located on the Liberty website. You can also request it via email at [email protected]. Claimants will be required to provide tax information, proof of identity (SA ID/passport copy or a driver’s licence), and the relevant supporting documentation, a detailed on the claim form.
*An Unclaimed Benefit is any benefit that was due to a member from a retirement fund in terms of the rules of the fund, that is not claimed by the member or beneficiary within a period of 24 months from the date the benefit became legally due and payable to a member. Unclaimed Benefits include benefits such as:
- Withdrawal benefit – as a result of termination of employment, retrenchment, or resignation
- Death benefit – where the member dies, and the beneficiary was identified but does not claim their benefit
- Surplus benefit – a benefit that became payable as a result of a distribution of surplus in the fund to active and former members of the fund
- Retirement benefit – as a result of retirement from the fund.