Experts push overhaul of unclaimed benefits system

Calls to overhaul Namibia’s unclaimed benefits system are under the spotlight, with consumer advocates and industry players agreeing that the process of tracing beneficiaries must improve.

This comes as institutions reject suggestions that they unfairly profit from unclaimed funds.

The renewed debate follows a parliamentary motion tabled last month by member of parliament Tobie Aupindi, who called for a national audit of unclaimed pension, insurance and death benefits.

Aupindi wants stronger tracing obligations and tougher penalties for institutions that fail to reunite beneficiaries with money owed to them.

Consumer analyst Salomo Iipinge tells The Namibian that the issue goes beyond administration, arguing that it reflects a structural failure that leaves vulnerable families without money intended to protect them.

“These benefits are deferred wages and safety nets, not corporate assets.