You may have a share of R88bn in unclaimed benefits: Here's how to check and claim

CapeTalk's Clarence Ford interviews Neesa Moodley, Personal Finance Editor at Daily Maverick.

Listen below:  

Billions – R88 billion, according to Moodley – in unclaimed benefits, remain unpaid to rightful recipients.

If you suspect you may be owed money, there are several ways to check and claim what is yours.

Unclaimed benefits can include retirement savings, investment payouts and dormant bank accounts.

Moodley says the most common reasons for these unclaimed benefits include consumers failing to update financial institutions with their current contact information and beneficiary details, as well as inadequate record-keeping by the institutions themselves.

"It's worth the check. I'm sure like many other people have changed employers a few times and sometimes when you move from an employer, it might be too much PT to actually try to move your retirement fund benefits, so you just leave it invested there."

- Neesa Moodley, Personal Finance Editor – Daily Maverick

How to check and claim unclaimed benefits:

• Visit the JSE’s Claim It page: Complete the online form to check if you are entitled to any unclaimed dividends.
• Alternatively, you can contact the JSE Claim It call center at 0861 401 105 for assistance.
• Visit the FSCA’s Unclaimed Benefits page: Fill in your details to see if you have any unclaimed benefits.

• • You will need to provide:
    • ID number
    • Current contact information
    • Proof of address

• Once your details are submitted, the JSE will verify whether they match any shareholder records in their registries.

"The money sits there unclaimed and it's just generating interest."

- Neesa Moodley, Personal Finance Editor – Daily Maverick

Scroll up to the audio player to listen to the interview.