Can you help the ISASA Retirement and Provident Fund (Fund) trace members and dependents who have not claimed their benefits?
The Fund is concerned about the large number of members with unclaimed benefits.
When a member exits the Funds, due to:
- resignation,
- retrenchment,
- retirement, or
- death,
a benefit becomes due to the member or his or her dependants (in the case of death), effective from the date of exit/death.
If the benefit is not claimed by the member or the member’s dependants within twenty-four months, the benefit becomes unclaimed.
Most of the unclaimed benefits relate to members who do not claim their benefits when they leave the Fund. In many cases, the Fund and/or the school does not have contact details for those that have left and cannot trace them. The money then remains within the Fund until such time that it is claimed.
If you know of any member who has left the Fund and has not received or claimed their benefits, please ask them to contact Old Mutual at 0860 466 466 or isasa@oldmutual.com.
Ensure that you regularly complete a Nomination Form with correct contact details for dependants/beneficiaries. In this way you are assisting the Board to streamline the tracing process. Failure to correctly complete the Nomination Form may result in delayed payment of benefits and, ultimately, unclaimed benefits.