MP
Mmakate P

1 reviews | Active since Nov 2015

02 Nov 2015, 16:00

Cash-Out RA Paid-Up Policy

I had a lapsed retirement annuity with Liberty & just recently discovered that I could cash out on that same policy as it was in a paid-up state.My contributions were R2400 between September 2003-October 2004.To my understanding I submitted all required forms/documents on 20 August 2015 to effect the cash-payout,I received an automated response advising that I should expect feedback from Liberty after 07 working days.I waited almost 2 weeks to find out that there was Tax directive requirement by SARS which I had to make a phone call to get an update.Their Actuarial department is struggling to give value to this policy and after numerous calls to Liberty:*** still today there is no resolution to my query.I have been very patient as 2 and a half months later I'm still told that my query has been sent for escalation, after numerous escalations before with no resolution by their Specialised Department and the Actuarial Department.I must say only one person has tried their best to give constant feedback-Maraba is her name from Client Services.Other than that I'm made to feel as though i'm not important enough(mainly due to the value of my investment) to get attention from Liberty

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Replies (1)
Liberty Group South Africa
Liberty Group South Africa's reply03 Nov 2015, 12:29
Official
Hello mmakatep,

Thank you for your posting.

We apologise for the frustration that you have been experiencing and I have forwarded your complaint to the relevant manager for urgent investigation and response.

We will respond to you shortly with feedback.

Please contact me in the interim should the need arise.

Regards
Naome Ncube
Liberty Group Customer Relations
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