The Mines 1970 Unclaimed Benefits Preservation Pension and Provident Funds has improved their tracing rate by 36,5% in the past 18 months to see more than R24-million in unclaimed benefits paid to beneficiaries. This is required to locate your products; safely identify them as yours and link them to your portfolio. However despite contacting them multiple times via phone & email – nobody has come back to validate this, nor can anyone tell me how much it is (they refuse to say on the phone, telling me to email my ID, but I’ve now done this twice with no … The Unpaid Benefits Campaign has given pension fund administrator Alexander Forbes 14 days to act decisively on unpaid benefits it administers. To help organisations manage these benefits, we’ve formed the Alexander Forbes Beneficiary Fund (fund) that will remove this liability from companies and funds.. Unclaimed benefits Unclaimed Benefits. Head: Institutional Client Solutions & Principal Consultant Alexander Forbes Oct 2017 - Dec 2019 2 years 3 months. Alexander Forbes … Report review. The actual solutions or benefit structure created are a function of the last two, and comprise a range of parameters or inputs: tax structure (pension and/or … But the industry watchdog, the Financial Sector Conduct Authority (FSCA), reported in September 2017 that there was more than R42bn in unclaimed benefits in SA and … Alexander Forbes has identified that several insurance companies and retirement funds have large sums of unclaimed benefits. Many people have really struggled to gain access to unclaimed benefits due in part to the many fund administrators administrating their own unclaimed benefits. Alexander Forbes did not disclose the amount of unclaimed benefits in its books. A 2019 report by non-profit organisation Open Secrets titled The Bottom Line says the total amount of unclaimed benefits rises to R51 billion if funds falling outside the Pension … Investments. The Unclaimed Benefits Committee (UBC), representing a group of claimants, ... (West Rand Consolidated Mines) in Krugersdorp from 1965 to 1972. 1969/018487/07 FAIS Licence no: 1177 Alexander Forbes Place, 61 Katherine Street, Sandown, 2196 P O Box 652071, Benmore, 2010 I resigned early in 1973. ALEXANDER FORBES FINANCIAL SERVICES (PTY) LTD Reg No. Head of Business Process & Systems at Alexander Forbes Johannesburg Area, South Africa 500+ connections. The benefits transferred to the Old Mutual SuperFund Unclaimed Benefits Preservation Pension/Provident Fund are invested in Old Mutual’s market-leading Absolute Stable Growth Portfolio, which targets returns above inflation over the long-term (in excess of ten years), while significantly reducing the volatility associated with market-linked investments. Alexander Forbes Financial Services's reply: 04 Jan 2016, 11:47. The Trustees took a decision in 2010 that all unclaimed benefits would be transferred to the Alexander Forbes Unclaimed Benefit Provident Preservation Fund. Even if my unclaimed benefit is R500, I need it because I worked very hard for it. Both Alexander Forbes and Standard Bank Group Retirement Fund have been giving me the runaround since last year October and I have sent tons of emails with no end in sight. Our specialists consultants and actuaries provide in-depth valuations and varied employee-benefit consulting and actuarial services based on the Alexander Forbes house view and best practices: Advisory. Legal. Alexander Forbes Head Office. Consulting. Internal governance. Regulatory. Email: info@aforbes.co.za Telephone: +27 11 269 0000 Fax: +27 11 269 0149 A/F, pull up your socks or watch smaller companies take business from you. Join to Connect Alexander Forbes. An unclaimed benefit is a sum of money that is due to a retirement fund member (or beneficiaries) that has remained unclaimed for 24 months since the date it becomes legally payable. This is what we know about Data Factory Unclaimed Benefits: The Data Factory is a licensed Financial services provider with the FSB, license number 43846 which operates from … I have complied with all the documents alexander forbes requested from me and until this day alexander forbes has not given me a date of when they are going to pay the unclaimed benefits. According to Alexander Forbes their experience indicates that, if beneficiaries are not traced within 24 months, there is only a 10% chance of finding them. Here is the process to follow in order to make a claim for unlaimed benefits… An "unclaimed" benefit, as defined by legislation, is a benefit that has not been paid to or claimed by a member within 24 months from the date it became due for payment or claiming. Thousands of former mineworkers have been paid more than R60 million in unclaimed benefits over a two-year period to date, the Mines 1970 Unclaimed Benefits … Alexander Forbes Administration Services, a division of Alexander Forbes Financial Services (Pty) Ltd. Reg No. I was approached by Alexander Forbes in Sandton in 2016 to come and claim my unclaimed funds. According to our data from the Alexander Forbes Unclaimed Benefit Fund, 49.8% of unclaimed monies are older than 8 years and tracing has been attempted more than once. The bulking allocations due to former members were also transferred to this fund. Name and surname of person on whose behalf you are enquiring. Each fund administrator in terms of current law, is required to seek out the beneficiaries of any unclaimed funds but this seems to be a requirement not strictly adhered to. the Fund will become an “Unclaimed Benefit” and may be transferred to an Unclaimed Benefit Fund. If you would like to see your Alexander Forbes products online, you will need to supply your South African ID number or foreign Passport number. Benefit structure. AFF. Interestingly, 38% of the unclaimed benefits identified by Benefits Exchange are administered by the Metal Industry Benefit Fund Administrators (MIBFA), 29% by Alexander Forbes and 12% by Liberty. The fund with by far the largest amount of unclaimed benefits is the Metal Industries Benefit Fund with nearly R19 ... and two administrators, Liberty and Alexander Forbes… 93/284 Operations & Administration Alexander Forbes House, c/o Independence ... in terms of the rules of the fund will become an “unclaimed benefit” and may be transferred to an unclaimed benefit fund. I have obtained proper consent to do this enquiry and will not disclose any personal information of the said person to anyone else. Question: My husband was recently retrenched,and was paying for his provident fund through Alexander Forbes, my question is: 1)Will his employer fill out the necessary documentation and notify Alexander Forbes that he was retrenched in order for the payout to be done or does my husband have to contact Alexander Forbes. Hello LH2703, Unclaimed pension fund benefits amount to a whole lot of money which is sitting in the coffers of the Insurance companies awaiting distribution and you could be one of the lucky ones who is able to collect. UNCLAIMED BENEFITS . Administration. 61 Katherine Street Sandown 2196. ... alexander forbes provident fund payout alexander forbes tax certificate af online how long does alexander forbes take to pay afonline alexander forbes hello peter lump sum declared but directive outstanding outstanding tax directive automated bank validation process how long does alexander forbes take to pay out. These benefits are due to members of a pension or provident fund, or a possible beneficiary of a member who belonged to such a fund and who did not claim their benefit when their … Unclaimed Benefits Search *The enquiry is on behalf of myself. Mines unclaimed benefits. unclaimed benefit funds, and, instead, o take all reasonable steps to trace and pay each person entitled to such a benefit, whether it is R500.00 or R500 000.00; o stop deducting administration and tracing costs from the benefits paid and, instead, ensure that those benefits … Earlier, the FSB warned about people purportedly acting on behalf of retirement fund administrator Alexander Forbes who approach you about recovering unclaimed pension benefits. Governance. After 9 working days I finally received feedback on the 01 July 2019 whereby my Trustee education. According to data from the Alexander Forbes Unclaimed Benefit Fund, 49.8% of unclaimed monies are older than eight years and tracing has been attempted more than once. We receive a number of emails and contacts from people who were contacted by either unclaimedbenefits.co.za or datafactory.co.za asking us to assist with any unclaimed benefits claims. Head of Product for the Alexander Forbes Retirement Fund, Alexander Forbes Unclaimed Benefit Preservation Fund and the Alexander Forbes Beneficiary Fund. I was contacted by ICTS tracing, to tell me I had unclaimed benefits from Kimberly Clark, which is sitting with Alexander Forbes. Enquirer's Details; Query No: Names * Initials: PO Box 787240 Sandton 2146. Does anyone know how to claim your retirement benefit from Alexander Forbes which has been there for over 20years? Dear Alexander Forbes Unclaimed Benefit, This email bears reference to an email sent to ***** on 17 June 2019 with regard to an unclaimed benefit of my late Mom. 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