CL
Cornelius L
1 reviews | Active since Apr 2020
09 Jun 2020, 14:41
Dont waste your money into this unhelpful fund
Allan Gray the worst fund you can think of in SA , I have not been contributing to these greedy people for the last 10 yrs they say if your balance is 7000 or less you can withdraw your balance I have 2 policies with them even during this epidemic they want to convince you that your balance is way over the required withdrawal amount when any fool knows that it is impossible they are also the first fund who send out emails stating they will remain open during lock down ?? Why they are not an essential service and neither did they offer any kind of assistance during this epidemic to the members o but before I forget they hide behind government legislation makes you think who they holding the money for ?? Now that the government want to dig into funds are they gonna give our funds to them ??
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Replies (2)
Allan Gray's replyOfficial
10 Jun 2020, 12:16Dear Cornelius L
Thank you for taking my call. We sympathise with the impact that the current worldwide pandemic has had on you and your family.
Your Allan Gray Retirement Annuity Fund is a South African retirement fund governed by the Pension Funds Act, and as administrators we are bound by the rules set out in the Act. The regulations of the Pension Funds Act allow for access to your retirement savings at retirement age of 55 or older. The reason for this regulation is to protect your retirement savings so that you are able to benefit from it in your retirement years. The prescription of assets as stipulated by Regulation 28 is an extension of the Pension Funds Acts’ goal of protecting retirement savings to mitigate against market volatility. The selection of unit trusts in your Allan Gray Retirement Annuity Fund is therefore in line with this regulation, and should the governments’ discussions on this topic lead to changes, we will communicate this to our clients accordingly.
Although the Pension Funds Act makes provision for certain exceptions, the current worldwide pandemic has not led to changes in the legislation to allow for more accessibility of South African retirement funds before retirement age of 55 at this time.
Allan Gray has been declared an essential service during the current worldwide pandemic to enable us to service our clients’ needs and continue to actively manage investments to generate long-term wealth for our clients. We remain committed to staying open and operating whilst prioritising the safety of both our clients and staff. We believe that this and proactively communicating with our clients will aid in providing some support during these uncertain times. As per your request, I will send you an email with more information which I hope will shed some light on your concerns about your retirement savings. Should you wish to discuss the matter further, you may reach out to us through any of our digital servicing channels. Alternatively, feel free to contact us on ***.
Yours Sincerely
Kashiefah Riley | Client Relationship Manager
Thank you for taking my call. We sympathise with the impact that the current worldwide pandemic has had on you and your family.
Your Allan Gray Retirement Annuity Fund is a South African retirement fund governed by the Pension Funds Act, and as administrators we are bound by the rules set out in the Act. The regulations of the Pension Funds Act allow for access to your retirement savings at retirement age of 55 or older. The reason for this regulation is to protect your retirement savings so that you are able to benefit from it in your retirement years. The prescription of assets as stipulated by Regulation 28 is an extension of the Pension Funds Acts’ goal of protecting retirement savings to mitigate against market volatility. The selection of unit trusts in your Allan Gray Retirement Annuity Fund is therefore in line with this regulation, and should the governments’ discussions on this topic lead to changes, we will communicate this to our clients accordingly.
Although the Pension Funds Act makes provision for certain exceptions, the current worldwide pandemic has not led to changes in the legislation to allow for more accessibility of South African retirement funds before retirement age of 55 at this time.
Allan Gray has been declared an essential service during the current worldwide pandemic to enable us to service our clients’ needs and continue to actively manage investments to generate long-term wealth for our clients. We remain committed to staying open and operating whilst prioritising the safety of both our clients and staff. We believe that this and proactively communicating with our clients will aid in providing some support during these uncertain times. As per your request, I will send you an email with more information which I hope will shed some light on your concerns about your retirement savings. Should you wish to discuss the matter further, you may reach out to us through any of our digital servicing channels. Alternatively, feel free to contact us on ***.
Yours Sincerely
Kashiefah Riley | Client Relationship Manager
Allan Gray's reply10 Jun 2020, 12:16
Official
Dear Cornelius L
Thank you for taking my call. We sympathise with the impact that the current worldwide pandemic has had on you and your family.
Your Allan Gray Retirement Annuity Fund is a South African retirement fund governed by the Pension Funds Act, and as administrators we are bound by the rules set out in the Act. The regulations of the Pension Funds Act allow for access to your retirement savings at retirement age of 55 or older. The reason for this regulation is to protect your retirement savings so that you are able to benefit from it in your retirement years. The prescription of assets as stipulated by Regulation 28 is an extension of the Pension Funds Acts’ goal of protecting retirement savings to mitigate against market volatility. The selection of unit trusts in your Allan Gray Retirement Annuity Fund is therefore in line with this regulation, and should the governments’ discussions on this topic lead to changes, we will communicate this to our clients accordingly.
Although the Pension Funds Act makes provision for certain exceptions, the current worldwide pandemic has not led to changes in the legislation to allow for more accessibility of South African retirement funds before retirement age of 55 at this time.
Allan Gray has been declared an essential service during the current worldwide pandemic to enable us to service our clients’ needs and continue to actively manage investments to generate long-term wealth for our clients. We remain committed to staying open and operating whilst prioritising the safety of both our clients and staff. We believe that this and proactively communicating with our clients will aid in providing some support during these uncertain times. As per your request, I will send you an email with more information which I hope will shed some light on your concerns about your retirement savings. Should you wish to discuss the matter further, you may reach out to us through any of our digital servicing channels. Alternatively, feel free to contact us on ***.
Yours Sincerely
Kashiefah Riley | Client Relationship Manager
Thank you for taking my call. We sympathise with the impact that the current worldwide pandemic has had on you and your family.
Your Allan Gray Retirement Annuity Fund is a South African retirement fund governed by the Pension Funds Act, and as administrators we are bound by the rules set out in the Act. The regulations of the Pension Funds Act allow for access to your retirement savings at retirement age of 55 or older. The reason for this regulation is to protect your retirement savings so that you are able to benefit from it in your retirement years. The prescription of assets as stipulated by Regulation 28 is an extension of the Pension Funds Acts’ goal of protecting retirement savings to mitigate against market volatility. The selection of unit trusts in your Allan Gray Retirement Annuity Fund is therefore in line with this regulation, and should the governments’ discussions on this topic lead to changes, we will communicate this to our clients accordingly.
Although the Pension Funds Act makes provision for certain exceptions, the current worldwide pandemic has not led to changes in the legislation to allow for more accessibility of South African retirement funds before retirement age of 55 at this time.
Allan Gray has been declared an essential service during the current worldwide pandemic to enable us to service our clients’ needs and continue to actively manage investments to generate long-term wealth for our clients. We remain committed to staying open and operating whilst prioritising the safety of both our clients and staff. We believe that this and proactively communicating with our clients will aid in providing some support during these uncertain times. As per your request, I will send you an email with more information which I hope will shed some light on your concerns about your retirement savings. Should you wish to discuss the matter further, you may reach out to us through any of our digital servicing channels. Alternatively, feel free to contact us on ***.
Yours Sincerely
Kashiefah Riley | Client Relationship Manager
CL
Cornelius L's updateReviewer Update
11 Jun 2020, 10:50I am not interested in anything you say like I said there is nothing essential about alan gray servicing clients and not offering assistance to clients in a pandemic servicing does not count under essential in human language this is the most inhumane act of selfishness enjoy your day
CL
Cornelius L's update11 Jun 2020, 10:50
Reviewer Update
I am not interested in anything you say like I said there is nothing essential about alan gray servicing clients and not offering assistance to clients in a pandemic servicing does not count under essential in human language this is the most inhumane act of selfishness enjoy your day