NM
Nico M
1 reviews | Active since Mar 2020
17 Nov 2021, 10:13
correct feedback
Good day I received a call for *** on the 17th November 2021 around 9H15 a.m by a call center agent telling me that I can’t surrender my policy because it over R7000 and I received an sms saying that I can’t surrender my policy because it over R15000. I am so confuse because the policy I got is under R7000.
Kind regards Nika
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Metropolitan Life's replyOfficial
17 Nov 2021, 11:50Dear Nika
We acknowledge receipt of your complaint on HelloPeter.
Kindly note that the Retirement Annuity fund was registered in terms of the Pensions Fund Act and approved by the Commissioner for the South African Revenue Service (SARS). Payment of benefits from the fund is thus subject to the Pensions Fund Act, the Income Tax Act and fund rules. According to these acts and rules, a member becomes entitled to the fund benefit when:
(a) The member reaches retirement age of 55 years and elects to retire from the fund
(b) The member discontinues his/ her contributions prior to his/ her retirement date and the member's interest in the fund is less than an amount determined by the Minister by notice in the Gazette (currently R15000)
One of our Client Care Assessors will explain how this may apply to your policies.
Regards
Client Care team
We acknowledge receipt of your complaint on HelloPeter.
Kindly note that the Retirement Annuity fund was registered in terms of the Pensions Fund Act and approved by the Commissioner for the South African Revenue Service (SARS). Payment of benefits from the fund is thus subject to the Pensions Fund Act, the Income Tax Act and fund rules. According to these acts and rules, a member becomes entitled to the fund benefit when:
(a) The member reaches retirement age of 55 years and elects to retire from the fund
(b) The member discontinues his/ her contributions prior to his/ her retirement date and the member's interest in the fund is less than an amount determined by the Minister by notice in the Gazette (currently R15000)
One of our Client Care Assessors will explain how this may apply to your policies.
Regards
Client Care team
Best regards,
Metropolitan Life's reply17 Nov 2021, 11:50
Official
Dear Nika
We acknowledge receipt of your complaint on HelloPeter.
Kindly note that the Retirement Annuity fund was registered in terms of the Pensions Fund Act and approved by the Commissioner for the South African Revenue Service (SARS). Payment of benefits from the fund is thus subject to the Pensions Fund Act, the Income Tax Act and fund rules. According to these acts and rules, a member becomes entitled to the fund benefit when:
(a) The member reaches retirement age of 55 years and elects to retire from the fund
(b) The member discontinues his/ her contributions prior to his/ her retirement date and the member's interest in the fund is less than an amount determined by the Minister by notice in the Gazette (currently R15000)
One of our Client Care Assessors will explain how this may apply to your policies.
Regards
Client Care team
We acknowledge receipt of your complaint on HelloPeter.
Kindly note that the Retirement Annuity fund was registered in terms of the Pensions Fund Act and approved by the Commissioner for the South African Revenue Service (SARS). Payment of benefits from the fund is thus subject to the Pensions Fund Act, the Income Tax Act and fund rules. According to these acts and rules, a member becomes entitled to the fund benefit when:
(a) The member reaches retirement age of 55 years and elects to retire from the fund
(b) The member discontinues his/ her contributions prior to his/ her retirement date and the member's interest in the fund is less than an amount determined by the Minister by notice in the Gazette (currently R15000)
One of our Client Care Assessors will explain how this may apply to your policies.
Regards
Client Care team
Best regards,