sC
sean C

1 reviews | Active since Apr 2017

06 Apr 2017, 10:07

Taking their time to pay out

<p>I resigned from my company on 10th March 2017 and received the same day a sms stating that they received my paperwork for processing of payout on pension fund.</p> <p> </p> <p>Two weeks later I phoned in to find out how far the process was as I never heard anything from them up till then. I was informed that they are still waiting for the final contribution from my ex company and then only could they proceed. I explained that the matter is of urgencey as I am currently unemployeed. That call to them wasted a lot of my money on airtime. They promised to make it a matter of urgencey.</p> <p> </p> <p>Today, 06/04/2017, I phoned again and was informed that they have received the final payment and they will first have to invest it before withdrawing it and then only proceed with the process of paying out the fund which could now take between 6 to 8 weeks. This is totally ridiculouse.Once again I explained the situation to them of me being unemployed and I need my funds urgently or I will be evicted. They promised to escalate the matter which I highly doubt.</p> <p> </p> <p>I find this very annoying that they are very eager to receive the contributions but when it comes to paying out the funds, a person has to wait for it and they have no consideration for the implications which are caused due to their delay in paying out the funds</p>

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Replies (2)
Alexander Forbes Financial Services
Alexander Forbes Financial Services's reply06 Apr 2017, 10:37
Official

Good Day Sean

Thank you for bringing this matter to our attention.

We apologise for the service you've experienced.

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

Kind Regards

Bongiwe

sC
sean C's update18 Apr 2017, 12:43
Reviewer Update

Good day. I have now continuousely rep**** to Bongiwe and sent further mails, requesting a eta on the payout date, All of which has been totally ignored.

Alexander Forbes acts as if we are begging for money by them when in fact they are the ones that owe us money. this is the worst service I have ever come across from a company. Eager to take your money but when it comes to paying out, it is a question of Hurry up and wait.