Tracing retirement fund members

Millions of South Africans rely on retirement funds to secure their financial future, but what happens when members lose track of their benefits? A recent case has highlighted a critical issue: fund administrators have a legal duty to actively trace members and ensure they receive what is due. Failure to do so can result in small, unclaimed benefits being eroded by administration costs, leaving members out of pocket. Deputy Pension Funds Adjudicator Naheem Essopex examines the responsibilities of fund administrators, the role of employers, and what members can do to protect their retirement savings.