NUMSA has received reports that some people are offering assistance to members to claim their surplus funds for a fee.
Mr Makhubela from Limpopo was excited when he received a phone call from someone who offered to help him apply for his surplus. In return the person said Mr Makhubela should him 25% -35% of his surplus. Mr Makhubela qualifies to get R220.000. Now he is expected to pay 25 – 35% of his surplus which is about R60.000 to the person that helped him.
We have contacted the Financial Services Board (FSB) an organisation that oversees all pension and provident funds about this practice. They stated this is against the law.
This case is not only isolated to Numsa only. There are people who take advantage of the needy and poor people of South Africa by charging them exorbitant amounts to claim their hard-earned money.
Numsa will never charge anyone for offering assistance on pension or provident and surplus funds to all members and beneficiaries.This service is free of charge.
Numsa has 48 local offices, nine regional offices in all nine provinces of South Africa where members, former members and the community at large are welcome to visit for free assistance.
The Metal Industries Benefit Fund Administrator (MIBFA) also helps all members and beneficiaries for free. Therefore there’s no need for people to pay whilst there are offices that do this job for free.
If it has happened to you please report the person’s or company’s name to your nearest Numsa or MIBFA office.