HL
Henrietta L
1 reviews | Active since Mar 2021
08 Apr 2025, 16:38
Disgusting lack of service
This company has gone from selling me the wrong product to not responding to my enquiries. I want to start the road to the constitutional court but 10x won't respond to my enquiry which I must do.
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Replies (3)0
Replies (3)
10x Investments's replyOfficial
08 Apr 2025, 17:28Dear Ms Lundall,
Thank you for your email.
As previously communicated, the drawdown percentage on your Living Annuity can only be amended once annually on the policy anniversary date, in accordance with the Income Tax Act. This is a legislative restriction that applies industry-wide and not a policy specific to 10X.
Your case has been reviewed internally and was also referred to the Office of the Ombud for Financial Services Providers. The Ombud found that 10X acted correctly and in line with all regulatory obligations. As such, we are unable to accommodate your request for an early adjustment to your drawdown rate.
We also note that you have continued to make public statements regarding your Living Annuity that are factually incorrect. While we understand your frustration, we respectfully ask that any further commentary accurately reflects the product rules and the history of this matter.
Regards,
10X Team
Regards,
10X Team
10x Investments's reply08 Apr 2025, 17:28
Official
Dear Ms Lundall,
Thank you for your email.
As previously communicated, the drawdown percentage on your Living Annuity can only be amended once annually on the policy anniversary date, in accordance with the Income Tax Act. This is a legislative restriction that applies industry-wide and not a policy specific to 10X.
Your case has been reviewed internally and was also referred to the Office of the Ombud for Financial Services Providers. The Ombud found that 10X acted correctly and in line with all regulatory obligations. As such, we are unable to accommodate your request for an early adjustment to your drawdown rate.
We also note that you have continued to make public statements regarding your Living Annuity that are factually incorrect. While we understand your frustration, we respectfully ask that any further commentary accurately reflects the product rules and the history of this matter.
Regards,
10X Team
Regards,
10X Team
HL
Henrietta L's updateReviewer Update
08 Apr 2025, 18:03I am referred to 10x repeatedly because they are empowered to assist me to prevent indigence. However I cannot proceed to court unless they decline my request which they only do if I go public. Now that I have this reply after 5 letters I can proceed. They lie publicly.
HL
Henrietta L's update08 Apr 2025, 18:03
Reviewer Update
I am referred to 10x repeatedly because they are empowered to assist me to prevent indigence. However I cannot proceed to court unless they decline my request which they only do if I go public. Now that I have this reply after 5 letters I can proceed. They lie publicly.
10x Investments's replyOfficial
09 Apr 2025, 14:30Dear Ms Lundall,
Thank you for your post. As previously communicated to you directly and via the Ombudsman, your Living Annuity was set up in accordance with your instructions and within the framework of the governing legislation.
We acknowledge your request for an early adjustment to your income drawdown. However, in terms of current legislation and the terms of your Living Annuity policy, 10X is not permitted to alter the agreed income frequency or percentage outside of the policy anniversary date. Living Annuities are governed by the Long-term Insurance Act, which sets out the regulatory limits and conditions for these types of products.
We further note that your case has been reviewed by the Ombudsman for Long-term Insurance, who found that 10X acted correctly and within the bounds of the law.
As such, 10X has provided you with the final position on this matter. Please be advised that we will not engage further on this issue unless there are material changes to legislation or new grounds for review.
Sincerely,
10X Client Experience Team
10X Client Experience Team
10x Investments's reply09 Apr 2025, 14:30
Official
Dear Ms Lundall,
Thank you for your post. As previously communicated to you directly and via the Ombudsman, your Living Annuity was set up in accordance with your instructions and within the framework of the governing legislation.
We acknowledge your request for an early adjustment to your income drawdown. However, in terms of current legislation and the terms of your Living Annuity policy, 10X is not permitted to alter the agreed income frequency or percentage outside of the policy anniversary date. Living Annuities are governed by the Long-term Insurance Act, which sets out the regulatory limits and conditions for these types of products.
We further note that your case has been reviewed by the Ombudsman for Long-term Insurance, who found that 10X acted correctly and within the bounds of the law.
As such, 10X has provided you with the final position on this matter. Please be advised that we will not engage further on this issue unless there are material changes to legislation or new grounds for review.
Sincerely,
10X Client Experience Team
10X Client Experience Team