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Siphiwe N
1 reviews | Active since Jan 2021
12 Oct 2022, 05:41
Metropolitan life you can do much better than this
Hello the experience have with company is disappointing I have surrendet my RA policy on 28th of sep 2022 which started year 07/09/ 2017 the value of this policy is less than R15000 I even sent them email last week up till now the haven't responded to my email.
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Replies (2)
Metropolitan Life's replyOfficial
12 Oct 2022, 09:34Dear Siphiwe
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 total interest in the fund is less than an amount determined by the Minister by notice in the Gazette (currently R15000). The total interest amount in the fund includes the combined value of all ones retirement annuity policies.
One of our Client Care Assessors will explain how this may apply to your policies.
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 total interest in the fund is less than an amount determined by the Minister by notice in the Gazette (currently R15000). The total interest amount in the fund includes the combined value of all ones retirement annuity policies.
One of our Client Care Assessors will explain how this may apply to your policies.
Regards
Client Care team
Metropolitan Life's reply12 Oct 2022, 09:34
Official
Dear Siphiwe
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 total interest in the fund is less than an amount determined by the Minister by notice in the Gazette (currently R15000). The total interest amount in the fund includes the combined value of all ones retirement annuity policies.
One of our Client Care Assessors will explain how this may apply to your policies.
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 total interest in the fund is less than an amount determined by the Minister by notice in the Gazette (currently R15000). The total interest amount in the fund includes the combined value of all ones retirement annuity policies.
One of our Client Care Assessors will explain how this may apply to your policies.
Regards
Client Care team
SN
Siphiwe N's updateReviewer Update
13 Oct 2022, 09:34Honestly speaking yoll service is every poor I dont regret leaving th. company I will do all I can to transfer my RA to another company I really dont want to deal with your company anymore
SN
Siphiwe N's update13 Oct 2022, 09:34
Reviewer Update
Honestly speaking yoll service is every poor I dont regret leaving th. company I will do all I can to transfer my RA to another company I really dont want to deal with your company anymore