DORMANT FUNDS: Treasury proposes central administrator for R88.6bn in unclaimed assets

DORMANT FUNDS: Treasury proposes central administrator for R88.6bn in unclaimed assets

South Africa has more than R80-billion sitting in unclaimed financial assets across banking and non-banking sectors. The government’s new proposed solution is the creation of a central administrator responsible for managing all unclaimed benefits, but with a time limit on how long money can be claimed.

By Hannah Abrahams