PRETORIA - Financial institutions in South Africa are holding billions of rands in unclaimed benefits, and efforts are underway to trace the rightful beneficiaries many of whom may not even know the money exists.
So, how can you check if you’re owed?
According to Astrid Ludin, Deputy Commissioner at the Financial Sector Conduct Authority (FSCA), some people avoid claiming these funds due to concerns about tax issues.
However, she says that unclaimed benefits remain legally due to the beneficiaries and should be claimed.