Provident Fund

Hi

I have been on liberty life provident fund for the past 5 years and when I changed jobs, I asked liberty to transfer my funds to Alexander Forbes and also withdraw the first R25k which should have been tax free. No one from Liberty bothered to call me or explain how or when the transaction will take place up until today to realise that R23k of that 25k has been taxed and to my shock. I called Insurance Zone and spoke to the admin Miss Julienne Naidoo who just told me to just call SARS myself, I guess my broker has no time to check my account and perhaps the money is not good enough for their broker to contact me.

I am suppose to be getting financial advice, but no maybe my profile has a low amount to get the attention of the broker assigned to my previous employer.

The only reason anyone would withdraw is because they need the cash, not to be made a joke out of them.

No one has bothered to contact me from Liberty to ensure that there was such a high implication on tax.

My level of disappointment is soo high because I have been with Liberty and referring my colleagues and friends to them for years.

Think twice before you join Liberty!!

Soo disappointed!!