$25 million is just lying idle because people are not claiming their pensions.
PENSION funds have $25 million in unclaimed pensions from nearly 25 000 pensioners, the majority of whom are migrants, an Insurance and Pensions Commission (IPEC) official has disclosed.
For the sector, this would appear to be a better problem; they have grappled with contribution arrears since dollarisation in 2009, a situation that IPEC insists has greatly compromised the asset quality of a number of pension funds.
Read full story in The Financial Gazette paper