Optimizing Management Approaches for Unclaimed Financial Assets: A Comprehensive Analysis of Pension Funds in Tanzania.

Adamu, Musa (2025) Optimizing Management Approaches for Unclaimed Financial Assets: A Comprehensive Analysis of Pension Funds in Tanzania. Masters thesis, The Open University of Tanzania.

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Abstract

The main objective of this study was to critically assess the management of unclaimed financial assets in Tanzania, with emphasis on pension funds. The study focused on four key objectives: to assess the current state of unclaimed financial assets, analyze management strategies, examine the regulatory framework, and propose strategies for improvement. Findings indicated that unclaimed financial assets, particularly at NSSF, are rising annually at an alarming rate. To address this, management has implemented measures such as member communication, identification of beneficiaries, system integration, stakeholder engagement, and training of fund managers. Despite the presence of legal and regulatory frameworks, their implementation remains weak, limiting effectiveness. The study further observed that current management strategies, though useful, are inadequate to curb the growing challenge. Limited technological adoption and weak enforcement of regulations contribute to inefficiency. The study emphasized the potential of modern tools, especially data analytics, in tracing beneficiaries and enhancing transparency. Based on these findings, the study recommends strengthening regulatory frameworks, ensuring active stakeholder participation, and promoting the use of advanced technologies to manage unclaimed assets. It also urges NSSF to adopt proactive approaches by tracing and notifying beneficiaries instead of relying on claims. Establishing a transparent and user-friendly digital database was also recommended to facilitate timely access and accountability. In conclusion, effective management of unclaimed financial assets requires a comprehensive strategy that combines robust regulation, active collaboration, and technological innovation to safeguard pension funds and protect beneficiaries’ rights.

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