UNCLAIMED BENEFITS

Through intensified tracing efforts, unclaimed assets of R22.7 billion were paid to their rightful owners by members of the Association for Savings and Investment South Africa (Asisa) in 2021. The assets were held in 77 790 risk policies, savings and investment policies, annuity polices and collective investment portfolios. Rosemary Lightbody, senior policy advisor at Asisa, says member companies started 2021 with R32.3 billion in unclaimed assets. Tracing efforts reduced this by R22.7 billion to R9.6 billion, but another R23.8 billion of unclaimed assets were identified during the year, bringing the balance to R33.5 billion at the end of 2021.