National Treasury says it is reviewing a report on the payment of pensions to beneficiaries of the former Venda Pension Fund in order to develop the next best course of action.
In August last year, the Ministry of Finance announced that the then Minister, Malusi Gigaba, intended to resolve the payment of pensions by the end of November 2017.
Proceed to Source : Insurance Gateway
The government has called on retired public servants and their beneficiaries to apply for unclaimed and unpaid pension benefits, which amount to more than R1.6bn.
Public Service and Administration Minister Ayanda Dlodlo said on Monday the Government Pensions Administration Agency (GPAA) had 44,190 cases of unpaid and unclaimed benefits as of May 2018.
The GPAA administers pensions on behalf of the Government Employees Pension Fund (GEPF). Unclaimed benefits are accumulated as a result of the rejection of incorrect documentation, including the identity of beneficiaries, as well as member tax matters, incorrect banking details and family disputes.
Proceed to Source : Business Day