ZK
Zorah K

1 reviews | Active since Feb 2014

20 Aug 2025, 10:10

3 month delay in pension fund payout

I am a Standard Bank retiree as of 31st May 2025. Alexander Forbes has been notified and has started the process of disbursing funds. I was dealing with Julia Makoti who initially responded to my emails but now no service or response from her. I have been monitoring the process on the AF app and saw that payout was done on the 11th August so I waited a few days but nothing showed in my account. I then emailed Julia and also tried to contact her telephonically but no response. The call centre advised me that Julia is working on the payout. On the 15th August, I saw that the payment was rejected. I contacted the call centre again and they advised that the wrong amount was captured and there is a query. At this time still no response from Julia. My financial advisor has sent numerous emails and tried to get hold of Julia and her manager telephonically as been no response from them. He contacted the call centre today and they advised him that they needed ID and proof of banking details which they had many years ago and also recently when I withdrew from the two pot system and also all documents were submitted when the retirement process started. Why was I not told on the 15th August what was required and also why wait for us to phone to ask for documents? Ref : FW: Transfer Information Request (Standard Bank Group Retirement Fund) (Zorah Khan) (M***2) -

0
Replies (1)
Alexander Forbes Financial Services
Alexander Forbes Financial Services's reply20 Aug 2025, 16:55
Official
Dear  Zorah 
 
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.  
 
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused. 
 
We will investigate your query and provide feedback with the contact details provided.   
  
Kind Regards 
Customer Insights and Escalations