ARE THEY TRULY UNCLAIMABLE?
Our track record shows a success ratio of 80% +
in tracing beneficiaries for our clients.
We understand that …
- It is an onerous affair to maintain an accurate database of members and beneficiary information.
- People go where the work is and therefore change residential addresses regularly.
- The size of South Africa’s migrant workforce places an administrative burden on fund holders to keep records up to date.
- The spirit and the intent of the Protection of Personal Information Act (POPIA) Act, No 4 of 2013 is to protect personal information, but it is not necessary supportive towards tracing, tracking and paying unclaimed benefits.
- The first and second tier tracing processes are exhausted leaving approximately two thirds of beneficiaries untraced.
- The third tier tracing process can be resource intensive and expensive.
How do we solve this burning issue?
It is actually rather simple, we trace the beneficiaries!
We found that XTND’s greatest challenge is to convince the beneficiaries that it is not a scam or an effort to steal their personal information. In our experience, our success ratio in tracing beneficiaries for our clients is 80% and higher, provided we have at least an identity number. These high ratios are achieved due to in-depth tracing and field investigations.
Search platforms report a 12% success rate – what happens to the remaining 88%?
Why choose XTND to assist in tracing your beneficiaries? What makes us different?
A few factors contribute towards differentiating XTND from other tracing agents and search platforms.