The Government Institutions Pension Fund (GIPF) says 309 of its members are still to claim their benefit after exiting the fund.
The fund’s benefits become due upon normal retirement, early retirement, resignation (also applicable to dismissal), retrenchment, disability benefit, ill-health retirement, death and funeral benefits.
“If, however, a member leaves service and does not claim his/her benefits on time, such benefits will remain in the fund for as long as regulations allow. Such benefits, if not claimed for a period of five years or longer, shall be paid over to the Guardian Fund held at the Master of the High Court, and such beneficiaries shall have no further claim against the GIPF,” GIPF Manager: Operations, Anna Hambuda said.
She said ordinarily, the benefits claiming process commences at the employer’s Human Resources departments as all personnel files are with employers.
“The completed benefit claim forms and other supporting documents are then submitted to the GIPF. It is critical to note that the Fund can only pay benefits once a claim has been completed, approved, signed off by GIPF participating employers and submitted to the Fund with all relevant supporting documents attached,” Hambuda said.
“However, what causes delay in benefit payout is when the HR Practitioners and the members fail to complete the relevant benefit claim forms at the time when members exit employment. This delays the whole claiming process which leads to members getting frustrated. Once members leave employment, it becomes a challenge to the Fund to trace them in the event of missing relevant information.”