TM
Tendai M

1 reviews | Active since Aug 2017

01 Aug 2018, 15:31

Pension Fund Payout

I would like to note the bad service I am getting from Alexander Forbes. They are giving me such a run around on my pension fund payout. It might be easier for companies to work with one financial services company but really we need to move from that and people choose the organisations they prefer maybe then companies such as Alexander Forbes can stop toying with people. I submitted both my passport and ID with the process claim documents over 2 months ago. After 2 months I followed up with AF on the delay and the agent was honest enough to say payment was released on the 16th of July and SARS took their portion but my payment wasn't processed to my bank account and that she didn't know why as the system didn't note anything else. She then mention she would contact fund administrators and I should have feedback after 5 working days. I called after 5 working days and was told that in actual fact my payment was rejected on the 13th of July and reasons for that was my ID could not be validated because of the confusion of the two documents I submitted (passport and the ID). Very frustrating to hear, in any case they then made the request that I send it again and also a bank statement again. A follow up after the documents were sent was that I needed to wait 3 days for feedback; feedback not the money, yet all that needs to be done is a verification of ID which they already had in the first place. When I also asked when the amount would be paid there was something about it depends on the bank. However when I asked to which department of the bank that was going so I could get my banker to also check for me it was a different story. SARS work on the same personal details and they could process their payment but when it comes to processing payment to me all of a sudden those same details could not be verified...Of course they are using the time to reinvest and try and make money with my funds. Alexander Forbes we are not stupid!!!!

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Replies (1)
Alexander Forbes Financial Services
Alexander Forbes Financial Services's reply01 Aug 2018, 15:42
Official

We apologise for the service you've experienced and thank you for bringing this matter to our attention

We will investigate this matter and will be in contact with you via the details provided.

Kind Regards

Bengy Marais