1 reviews | Active since Jan 2015

30 Aug 2021, 21:19

When To Expect My Provident Fund

I made a withdrawal for my provident fund in July as I was resigning from my then company. I sent 2 emails, a week apart on the 17th and on the 27th. I got the same response from Ester Guys that my fund is in disinvestment stage and I should follow up the following week. But when I do I get the same response. Can someone please give me a detailed explanation of what's happening and how long this process usually takes because right now I'm in the dark with my money, I don't know when to even expect it. How long does the disinvestment take and how long has my application been in this stage? Is this something that needs escalation or it's normal. I need something tangible that makes sense over and beyond being told that I should check next week.

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Replies (3)
10x Investments
10x Investments's reply31 Aug 2021, 10:58
Official
Dear Molefe 
We are sorry to hear that you have received this level of client experience.

As a corporate fund member, your employer's last contribution was July 2021. Your employer's contributions were invested on 17.08.2021. This is the date that the claim process can begin. Our administrators have a 14 day SLA- meaning your process should be complete by latest 06.09.2021. 
Our Head of Corporate Claims, Nazeema Kolbe, will be in touch with you today to further explain this process and to apologize for the lack of communication you have received. 

Please note that we, together with our administrators, will push get this claim processed as soon as possible. 

Apologies for any inconvenience caused,
Kind regards

The 10X Team 
's update04 Sept 2021, 18:40
Reviewer Update
Hi Nazeema Kolbe,

Thank you very much for the detailed explanation of the process and current status of my withdrawal. Please get back at your earliest convenience as I think the Friday catch up email/call might've slipped your mind. Looking forward to hearing from you. Thank you very much.
10x Investments
10x Investments's reply06 Sept 2021, 10:00
Official
Hi Molefe 
We are pleased that your claim was finalized and payment was made on Friday 3 Sept- your funds should reflect soon in your bank account. 
 Thank you for your positive review left this morning to confirm you received the assistance that you needed.

Kind regards,
The 10X Team