1 reviews | Active since Mar 2016
Need Metropolitan to pay back my Money in full
Early December in 2015 i went to Metropolitan at one of their branches in Bellville to notify them that i'm no longer working i'm at home and to give them notice to release my money from my retirement policy . the lady who assisted me was friendly and helpful. i completed the information that was required from me and i was awaiting feedback from Metropolitan n=but did not receive any feedback, on January 2016 i went back to the branch the lady again assisted but she was also awaiting feedback from the Head Office while i was the she contacted the head office eventually they answered saying they have a back log. <br> On the 28th of January 2016, I received two quotes of the same policy that I can purchase with 2/3 of my retirement with sum of R44,173.21 and get sum of R22, 086.60 which is 1/3 of it. <br> The other option is to purchase the sum of R66, 259.81, which will give me R510,93 monthly, then if I take the R44 173.21 option it will will give me R328.82 monthly. I see no difference in getting R328.82 or R510.93 monthly. My plans were to have financial freedom when joined the policy but now you are controlling my money i feel ****** by Metropolitan please back my money in full.
Thank you for sharing your concerns with us. I am sorry to hear about the delays. The payment of benefits on a retirement annuity policy is governed by the Income tax and Pension Fund Acts. In other words set out by legislation. We do understand your need for independence but as an insurer we need to act in terms of legislation. There were some changes to the retirement legislation 1 March thus we will relook at your request. Unfortunately you have reached us outside working hours and will contact you on Monday.
Kind regards
Mariza Schlusche
Thank you for sharing your concerns with us. I am sorry to hear about the delays. The payment of benefits on a retirement annuity policy is governed by the Income tax and Pension Fund Acts. In other words set out by legislation. We do understand your need for independence but as an insurer we need to act in terms of legislation. There were some changes to the retirement legislation 1 March thus we will relook at your request. Unfortunately you have reached us outside working hours and will contact you on Monday.
Kind regards
Mariza Schlusche