Swapo member of parliament Tobie Aupindi has called for a national investigation into millions of dollars in unclaimed pension, insurance, death and other financial benefits that remain unpaid to the rightful beneficiaries.
Aupindi tabled a motion in the National Assembly on Tuesday, arguing that former workers, widows, orphans, pensioners and vulnerable families continue to face economic hardships while institutions hold funds that legally belong to them.
He noted that unclaimed pension benefits alone exceed N$218 million, according to the financial sector regulator, while the total value of unclaimed funds held by pension funds, insurance companies, the Guardian’s Fund and other institutions could be significantly higher.
“Many beneficiaries remain unaware of their entitlements due to poor tracing systems, outdated records, limited public awareness and administrative obstacles, particularly in rural and low-income communities,” he said.
He expressed concern that institutions continue to invest and generate returns from these funds while beneficiaries struggle to meet basic needs such as food, shelter, education and healthcare.
The motion argues that the continued retention of unclaimed benefits undermines social justice, public trust in the financial system and citizens’ rights to access assets lawfully due to them.
Among the proposals is a comprehensive national audit of all unclaimed benefits, with findings to be reported to parliament.
Aupindi is calling for stronger legislation to improve beneficiary tracing, transparency and accountability, including stricter penalties for institutions that fail to meet their obligations.
The motion further seeks the introduction of mandatory tracing standards, strengthened capacity at the Master of the High Court and the Guardian’s Fund and a parliamentary committee investigation aimed at reuniting beneficiaries with funds owed to them.
