DD
Danie D

1 reviews | Active since Nov 2013

06 Aug 2018, 15:07

IS DISCOVERY INVEST REALLY SO BAD????

I resigned from the GEPF pension fund in March 2018 - ID number ********** 023086. I decided to transfer my monies to a Discovery Invest Preservation fund. GEPF transferred my funds on 20/07/2018 to Discovery Invest. After a battle to get these monies allocated to my policy I further requested a third of my funds as withdrawal.

This was done 27 July 2018 and needless to say has not been finalized. Discovery Invest had to request a Directive from SARS and *****ed this up badly, never taking into consideration a tax free portion I am entitled to for prior 1 March 1998 service - which Government employees still enjoy. Instead a Directive was issued for taxation on the whole one third lump sum payout with ridiculous taxation.

I cannot accept the fact that things are so slow and wrong at Discovery Invest - this while everyone I have been dealing with knows the importance of this. I even had dealings with a Executive Office at Discovery Invest (Lumka) but this correspondence has gone silent.

I really need Discovery Invest to get the right Directive from SARS and do payment of my one third lump sum claim asap.

0
Replies (4)
Discovery Invest
Discovery Invest's reply06 Aug 2018, 15:17
Official

Good day Mr. Durant

As your complaint pertains to personal, financial information, we will email you directly to resolve this matter.

Kind regards,

Discovery Invest

Discovery Invest
Discovery Invest's reply06 Aug 2018, 15:49
Official

Good day Mr. Durant

As discussed telephonically, we will forward the tax directive to you prior to processing the payment and we will await further instruction from you.

Kind regards,

Discovery Invest

DD
Danie D's update06 Aug 2018, 16:00
Reviewer Update
Thank you for your response thus far. I will await the tax directive outcome and get in touch. Kind regards
DD
Danie D's update07 Aug 2018, 12:15
Reviewer Update
Although I was very critical of Discovery Invest, they pulled out all the stops to solve my issue - and in some cases it must be a record! A new Directive was obtained overnight and payment already made. I must thank Lumka Mbatha (Executive Office) who gave me a call yesterday wrt progress and communicated with me all the way - great work! Thank you all at Discovery - you put a smile on my face and went a long way in retaining me as a client!