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Ashley A
1 reviews | Active since Oct 2015
16 Jul 2020, 15:38
Helpless client with no solutions
My retirement policy was setup by my previous employer. I no longer want to continue with the policy and want the funds to be paid out. Due to the setup of the policy and Government regulations I was told I need to wait till I am 55 or I would have been able to withdraw the money if the fund was worthless than 7k.
I am just disappointed due to the fact that nothing can be done and all I can do is continue to contribute to the fund or just leave the money. This make me feel helpless. This is not customer service. So for anyone thinking of joining Allan Gray just know they will NOT go the extra mile for you.
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Allan Gray's replyOfficial
16 Jul 2020, 18:43Dear Ashley
Thank you for affording me the opportunity to address your concerns. I trust that our telephonic conversation has provided you with clarity regarding withdrawals permitted from a retirement annuity fund. The Allan Gray Retirement Annuity Fund is governed by the Pensions Fund Act and as administrators we are bound by the rules set out in the Act. The Pension Funds Act aims to ensure that your retirement savings are protected until you reach the retirement age of 55 years or older in order for you to benefit from the savings in your retirement years. This objective does unfortunately mean that access to the Fund before retirement is restricted. We will look into ways that we can improve on our existing communications of these regulations in future. Should you have any further questions, please contact me on ***.
Yours sincerely
Muaaz Mahamed | Client Relationship Manager
Thank you for affording me the opportunity to address your concerns. I trust that our telephonic conversation has provided you with clarity regarding withdrawals permitted from a retirement annuity fund. The Allan Gray Retirement Annuity Fund is governed by the Pensions Fund Act and as administrators we are bound by the rules set out in the Act. The Pension Funds Act aims to ensure that your retirement savings are protected until you reach the retirement age of 55 years or older in order for you to benefit from the savings in your retirement years. This objective does unfortunately mean that access to the Fund before retirement is restricted. We will look into ways that we can improve on our existing communications of these regulations in future. Should you have any further questions, please contact me on ***.
Yours sincerely
Muaaz Mahamed | Client Relationship Manager
Allan Gray's reply16 Jul 2020, 18:43
Official
Dear Ashley
Thank you for affording me the opportunity to address your concerns. I trust that our telephonic conversation has provided you with clarity regarding withdrawals permitted from a retirement annuity fund. The Allan Gray Retirement Annuity Fund is governed by the Pensions Fund Act and as administrators we are bound by the rules set out in the Act. The Pension Funds Act aims to ensure that your retirement savings are protected until you reach the retirement age of 55 years or older in order for you to benefit from the savings in your retirement years. This objective does unfortunately mean that access to the Fund before retirement is restricted. We will look into ways that we can improve on our existing communications of these regulations in future. Should you have any further questions, please contact me on ***.
Yours sincerely
Muaaz Mahamed | Client Relationship Manager
Thank you for affording me the opportunity to address your concerns. I trust that our telephonic conversation has provided you with clarity regarding withdrawals permitted from a retirement annuity fund. The Allan Gray Retirement Annuity Fund is governed by the Pensions Fund Act and as administrators we are bound by the rules set out in the Act. The Pension Funds Act aims to ensure that your retirement savings are protected until you reach the retirement age of 55 years or older in order for you to benefit from the savings in your retirement years. This objective does unfortunately mean that access to the Fund before retirement is restricted. We will look into ways that we can improve on our existing communications of these regulations in future. Should you have any further questions, please contact me on ***.
Yours sincerely
Muaaz Mahamed | Client Relationship Manager