馃嚦馃嚘NamibiaSouthern Africa
Tobie Aupindi calls for investigation into millions in unclaimed benefits
via The Namibian3 min read
Swapo member of parliament Tobie Aupindi has initiated a motion in the National Assembly for a national investigation into millions of dollars in unclaimed pension, insurance, death, and other financial benefits. Aupindi highlighted that former workers, widows, orphans, pensioners, and vulnerable families are experiencing economic hardship while institutions retain funds legally belonging to them. According to the financial sector regulator, unclaimed pension benefits alone exceed N$218 million, with the total value of unclaimed funds across various institutions potentially much higher. Aupindi noted that beneficiaries are often unaware of their entitlements due to poor tracing systems, outdated records, limited public awareness, and administrative obstacles, particularly in rural and low-income areas. He expressed concern that institutions continue to invest and generate returns from these funds while beneficiaries struggle with basic needs. The motion proposes a comprehensive national audit of all unclaimed benefits, with findings to be reported to parliament. It also calls for stronger legislation to improve beneficiary tracing, transparency, and accountability, including stricter penalties for non-compliant institutions. Additionally, the motion seeks mandatory tracing standards, enhanced capacity at the Master of the High Court and the Guardian鈥檚 Fund, and a parliamentary committee investigation to reunite beneficiaries with their owed funds.
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This summary was AI-generated from a story originally published by The Namibian.
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