Regulatory Alerts2018-03-31
FSB Information Circular PF No. 3 of 2015: Unclaimed Retirement Fund Benefits
The Financial Services Board issued Information Circular PF No. 3 of 2015 to convene a media roundtable on unclaimed retirement fund benefits and to direct pension funds to update their databases and prepare for increased public enquiries. The circular outlines legislative context, current fund practices, and statistical trends regarding unclaimed benefits to support an industry-wide awareness campaign. It explicitly warns beneficiaries against using intermediaries for claims and mandates fund cooperation to minimize future unclaimed benefit growth.
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