More than R51 billion in retirement benefits remains unclaimed in South Africa — money that belongs to approximately 4.3 million people, many of whom may not even know that these funds exist in their names. Think about that for a moment: while millions of South Africans are struggling with unemployment, rising living costs and financial insecurity, billions of rand intended to provide
financial relief and dignity in retirement are sitting untouched within the system. The latest volume of Open Secrets’ Who Owns South Africa? report places the spotlight on South Africa’s pension and financial services sector, arguing that deep structural inequalities continue to shape who benefits and who gets left behind. The report raises serious questions about whether the pension industry is adequately serving workers and beneficiaries, and whether enough is being done to reunite people with money that rightfully belongs to them. Tonight we unpack why these unpaid benefits continue to grow, who is being affected most, and whether there has been sufficient urgency in addressing what
some campaigners are calling a longstanding injustice.

More than R51 billion in retirement benefits remains unclaimed in&nbsp;South Africa &mdash; money that belongs to approximately 4.3 million&nbsp;people, many of whom may not even know that these funds exist&nbsp;in their names. Think about that for a moment: while millions of&nbsp;South Africans are struggling with unemployment, rising living&nbsp;costs and financial insecurity, billions of rand intended to provide financial relief and dignity in retirement are sitting untouched&nbsp;within the system. The latest volume of Open Secrets&rsquo; Who Owns&nbsp;South Africa? report places the spotlight on South Africa&rsquo;s&nbsp;pension and financial services sector, arguing that deep structural&nbsp;inequalities continue to shape who benefits and who gets left&nbsp;behind. The report raises serious questions about whether the&nbsp;pension industry is adequately serving workers and beneficiaries,&nbsp;and whether enough is being done to reunite people with money&nbsp;that rightfully belongs to them. Tonight we unpack why these&nbsp;unpaid benefits continue to grow, who is being affected most, and whether there has been sufficient urgency in addressing what some campaigners are calling a longstanding injustice.

METRO FM Talk with Faith Mangope

METRO FM Talk with Faith Mangope

The R51 Billion Question: Why Millions of Retirement Benefits Remain Unclaimed ( SYDNEY MOSHOALIBA - STEERING COMMITTEE ON OF THE UNPAID BENEFITS CAMPAIGN )