NM
NAPE M

1 reviews | Active since Aug 2011

07 Mar 2018, 16:50

Metropolitan *****ing money from preservation funds

Metropolitan *****ing money from preservation funds, This company really does not know customer service. I transferred R366918.26 into a metropolitan preservation fund and make a withdrawal which was processed incorrectly as a full withdrawal when i had informed my adviser that i wanted to make a partial withdrawal. The full withdrawal was then processed with a R14586.85 amount that is not accounted for I have requested a that they supply me with a policy breakdown and am still waiting.

When transferring my funds to Metropolitan, I had asked to make a withdrawal with the least TAX implication and this is thee only reason i opened a policy with metropolitan and not a full withdrawal..(i could have withdrawn from SANLAN if this was was i wanted to do.) I was also quoted a no more than R3000 fee only for the above provided i left a min of R5000 which would be accessible on retirement. But since this was processed as a full withdrawal, Lwazi in this email confirms that there should not be any fee and commissions would not be applicable. I transferred R366918.26 to Metropolitan Less: Outstanding amount as per IRP5 R 58 919.65 tax Less:Outstanding amount as per IT88 R 2 541.81 tax and a R290 869.95 Payout to my my account. Which leaves R14 586.85

0
Replies (1)
Metropolitan Life
Metropolitan Life's reply07 Mar 2018, 17:10
Official

Dear Nape

We acknowledge receipt of your complaint.

One of our Client Care Assessors will be in contact with you to obtain more information to investigate and address your complaint.

Regards

Client Care Team