Dicovery Invest - PATHETIC SERVICE ON PAYOUTS!!!!!

<p> </p> <div>I have app**** for cancellation and "paid" up on my policy in March 2016 due to financial difficulty. As I run my own business and lost a huge contract, I was not able to meet the financial obligations I had.</div> <div> </div> <div>I never received any correspondence from discovery in regards to this to date. I only received telephonic feedback from the Customer Call centre and your payments department.</div> <div> </div> <div>I contacted Discovery in March 2016 to get feedback on the progress of the payout on my Retirement Annuity. I was told that SARS declined the tax directive and that I will not be able to receive payout on my policy.</div> <div> </div> <div>I then again requested my policy to be made "paid up" in April 2016. I received confirmation that the policy was cancelled and made "paid" up in April effective 7/04/2016.</div> <div> </div> <div>At the End of April 2016, a debit order went through my bank account for the premium of R850.00. I immediately reported this to Discovery Invest and they informed me that the cancellation was done, however the account had to be re-opened for payment to be made. At this stage I was confused as I was clearly told that the tax directive was declined.</div> <div> </div> <div> </div> <div>I then phoned SARS on 6 May 2016, regarding the tax directive which was declined due to the reason for "Discontinue of fund may not exceed R7000.00" I have spoken to Godfrey and the case number is ***. SARS informed me that there was 2 applications from Discovery for a tax directive.</div> <div> </div> <div>One application was made in March 2016 and the other in April 2016. There was 2 different amounts on the tax directive applications. The March 2016 application for tax directive was finalized and a tax directive was issued.</div> <div> </div> <div>The April 2016 application was declined due to the fact that the fund amount exceeded R7000.00" (SARS calculated the first application for tax directive in March 2016 and the second application for tax directive in April 2016 and this amount exceeded R7000.00).</div> <div> </div> <div>I have confirmed with SARS that the withdrawal from my provident fund 2 years ago at FB Cranes had no influence on the calculations of the application of tax directives from Discovery.</div> <div> </div> <div>I have spoken to Discovery Head Office this morning, and the payments department has cancelled all debit orders, I have informed them that I returned the debit order dated 4 May 2016 this morning via Standard Bank.</div> <div> </div> <div>On 9 May 2016, I contacted Discovery Invest to find out what the status was on the payout, they informed me that the refund of the debit order will be processed and paid on Wednesday, 11 May 2016 and the fund payment would be made on 13 May 2016.</div> <div> </div> <div>I contacted Discovery Invest again on Thursday, 12 May 2016 to confirm that payment would be made on Friday, 13 May 2016, they informed me that payment would only be made late next week.</div> <div> </div> <div>I contact Discovery Invest again on 13 May 2016, to get clarification on the situation and was informed by Bongthe Rakgatil (Payments) that she takes full responsibility for the delay in payment, I also spoke to Monica (Manager) in the Payments department.</div> <div> </div> <div>The reason I am complaining today, is due to the fact that:</div> <div> </div> <div>1) I have requested my policy to be cancelled and paid up in March 2016. </div> <div>We are now on 13 May 2016 and I have not received any payment.</div> <div> </div> <div>2) Discovery Invest blatantly **** to me as the member and told me that the tax directive was declined and no monies will be paid out.</div> <div> </div> <div>3) Not once has discovery been honest with me in regards to the delay, the reason for SARS declining the tax directive or when the payment would be made.</div> <div> </div> <div>4) Discovery Invest and they way they have dealt with my account is ********* in that this is ***** and theft at this stage, as they are not paying out monies that is rightfully mine.</div> <div><br /><u></u><strike></strike></div>