Road show targeting ex-mine workers!

On Tuesday the 12th of February saw the community of ward 23 at Mangolong village and surrounding areas having an opportunity to access services provided by the Financial Sector Conduct Authority (FSCA) at their community hall, without having to travel long distance.

The FSCA is the market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures.

The Regulator saw a need to conduct roadshows in rural areas this in partnership with the department of economic development, environmental affairs and Tourism Consumer Protection Unit, with the aim to assist and relocate ex-miners who did not get their pension monies after they retired from various mines in South Africa. This as to give beneficiaries what is due to them. Speaking on an exclusive interview with our Communications Unit, Mr. Elliot Modisa - Consumer Education Manager indicated that they are verifying applications and assisting claimants to fill in their claim forms. He further indicated that those who could not go to Mangolong on Tuesday, they can go to the Department of Economic Affairs in Maluti for assistance.

“By going out to rural areas, we want to ensure an efficient financial sector where our customers are informed about our services and are treated fairly,” said Mr Modisa. He also advised the public to be aware of people who ask them to pay in order to access these services.

Alfred Nzo region and Matatiele in particular, is facing a challenge of ex mine workers and their beneficiaries that are exploited by people who claim to assist them in claiming their pensions from their former places of employment. Communities are further discouraged to continue submitting their documentations to people who claim to assist them with a fee of R1 500.