So people are not entitled to the money they earn? They have to constantly have their hand on some bureaucratic version of a dead man's switch to keep the state from taking it at a moment notice? The government is the one introducing into your bank account. What business do they have to take your money because you did not get some letter on time? They are not owed this money, this is just outright thief by some greedy corrupt politicians and government bureaucrats. The only thing they have accomplished is people no longer trusting the banks and financial institutionsTrue, but if you move and don't tell people your new address then you can hardly complain that you don't get your mail, can you?
I am not a fan the paternalistic state that regulates everything to eliminate the personal responsibility of individuals. I think people ought to have the responsibility to do some basic thing for themselves. It's not too much to ask people to keep their addresses current with the institutions and agencies they do business with. It's not too much to ask people to read their mail and take the steps indicated to protect themselves. God help us if people cannot do even these simple things without some kind of government regulation or program to protect us from our own stupidity or laziness.