SM
Susan M

1 reviews | Active since Apr 2012

31 May 2019, 11:48

LIBERTY LIFE RETIREMENT ANNUITY, REALLY NOT WORTH IT

It has taken Liberty Life over 2 months and many many forms sent over and over again to try and get a matured retirement policy paid. From the initial call when I was told more than once that it would take 5 - 7 working days for payment, it has been a complete mess. If the long and involved process was explained up front I could have made the correct decisions. However, bit by bit the messy process has unfolded and still 2 months later no payment and I am told that my first form sent 2 months ago had an error.

What has happened to Liberty, a name I trusted but would now caution people against taking a retirement annuity. It was never explained upront that only a third can be taken out on maturity and that tax would be paid on this amount. Annuities are always sold as a way to avoid tax, however this is not true. And the messy process at the end after all those years of having your money is just not in my opinion worth it, and Liberty is not what I thought they were or maybe they used to be. IN MY OPINION, DO NOT MAKE THE SAME MISTAKE AS I DID.

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Replies (1)
Liberty Group South Africa
Liberty Group South Africa's reply31 May 2019, 15:09
Official
Dear Susan 

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

We will respond to you shortly with feedback.

Please contact me should you require any further information or assistance.

Regards
Naome  Ncube
Liberty Group Customer Relations
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