THE Financial Services Board (FSB) has received a tip-off that a firm called CZZ General Industry, operating from Pretoria and purporting to help people in the motor industry claim pension surplus benefits, is claiming that it is a registered financial services provider.
The FSB says the company also offers to assist former pension fund members who are not satisfied with their pension payouts. It says CZZ General Industry is not a registered financial services provider, nor does it have any agreement with the pension funds in the motor industry to help in any manner with pension benefits.
Apparently, the company requires clients to pay R1 500 to claim their benefits and a further R2 000 once a benefit has been received.
The FSB reminds consumers that the office of the Registrar of Pension Funds assists pension fund members or beneficiaries to trace unclaimed benefits. The FSB does not charge a fee for this service. It says you should be cautious when dealing with unregistered tracers.