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Fin24 reports that there is R10bn of unclaimed former mineworkers' retirement benefits in various pension and provident funds, according to the Presidency.
Some of these date back to the 1970s, it said in a statement that highlighted some of the progress made under the leadership of President Jacob Zuma, who celebrated his 75th birthday on Wednesday. "The Financial Services Board is providing support to provident and pension fund administrators to identify former mineworkers who need to receive the pension and provident funds due to them some dating back to the 1970s." The 1970s mineworkers' provident and pension fund has already paid over R20m to 7,200 former mineworkers, while the Amplats provident fund has paid R6.4m to 488 workers, the Presidency indicated.
The statement added that the partnerships formed in 2012 with mining companies following the Marikana tragedy, known as the Special Presidential Package aimed at revitalising mining towns, continued to yield results. "There are 351 informal settlements in the mining towns that are receiving support from Government’s National Upgrade Support Programme." Various government departments implement various projects in the mining towns currently.
Read this report in full at Fin24
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