How Do I Find Out What Money Is In My Name?
How Do I Find Out What Money Is In My Name?
Monies without owners are titled as unclaimed benefits, meaning they are monies without owners. Millions of South Africans may be unaware of unclaimed retirement savings that are rightfully theirs. These funds come from contributions made during their working years. Currently, retirement fund administrators are actively trying to locate former members or their beneficiaries to ensure they receive the money owed to them.
To verify unclaimed benefits, individuals can contact the Financial Sector Conduct Authority (FSCA), which regulates market conduct and maintains a central database for confirming unclaimed benefits. The FSCA can provide contact details for the relevant fund or administrator, but the individual will need to reach out directly to the fund and follow the standard claims process to validate their claim.
Who Qualifies For Unclaimed Benefits?
Employees who were part of a retirement fund during their time at a company and did not claim their benefits when they left are eligible for unclaimed benefits. This also extends to beneficiaries of former employees who have not received their money for various reasons.
Many individuals may have been registered with their pension funds using incorrect or incomplete information, like a date of birth instead of a full ID or passport number, making it harder to locate them. Although the tracing team is working diligently to find these people, there are ways the public can help speed up the process.
How To Check If You Money In Your Name?
If you want to check if there’s any unclaimed money in your name, there are several effective methods to do so, including;
First, visit the FSCA (Financial Sector Conduct Authority) website. They have a user-friendly search engine specifically designed to help you find out if you’re owed any unclaimed benefits.
After confirming that you have unclaimed money, you will need to complete a claim form to initiate the process. Make sure to have your tax information ready, as it will be necessary for the claim. You will also need to provide proof of identity, which can include a copy of your South African ID, passport, or driver’s license.
In addition to your identification, be prepared to submit any relevant supporting documents that are specified on the claim form. This will help ensure a smooth and efficient claims process. By following these steps, you can easily determine if any unclaimed benefits are waiting for you.
Contact FSCA
Contact Centre
- 0800 20 37 22
Switchboard
- +27 12 428 8000
Fascimile
- +27 12 346 6941
Media Queries
- +27 12 422 2823
Postal Address
- P.O. Box 35655
- Menlo Park 0102
Finding out if there is any money in your name, like unclaimed benefits or financial assets, is simple. By using resources such as the FSCA website, you can easily check if any unclaimed funds belong to you. I hope the provided information is helpful, share your thoughts below in the comment section.