Data Factory Unclaimed

The Data Factory is an outsourced service provider providing solutions to the Retirement Funding Industry, with a niche focus upon early withdrawal administration, specifically covering processes associated with unclaimed benefits, surplus apportionment schemes and section 37 death claims Since 2004 we have assisted over 750 retirement funds with services ranging from tracing former members, obtaining documentation and facilitating the payment of benefits owing

It is hard to comprehend how a person would not claim their money, but this happens every day. Through a combination of employee financial illiteracy along with administrative issues at pension funds, their administrators and employers, the extent of unclaimed benefits residing in pension funds continues to grow. The reason for members not receiving benefits due is that the fund administrators have no or invalid contact details on their records. People move on average every 4 years, they change cellphone numbers every 2 years, members emigrate and, unfortunately pass away before unpaid benefits can be paid. In addition, elderly people and individuals living in rural areas do not necessarily have formal telephone numbers and addresses. Those who have emigrated or tend to be very mobile, making for contact ability problems. Even if you were previously paid when you left a fund due to resignation or retrenchment, there exists a very real chance you may be owed additional monies for a number of reasons.