1 reviews | Active since May 2016
Retirement Annuity - ******
<p>I took retirement annuity with metroplitan, my governent pension fund was transferred to them. hoping that when i retire i will get the full amount of my retirement fund but they said they will pay me monthly. when i request that i need my full balance to be paid fully they just laught at me sayong i would never receive the whole amount. i have been to Mt frere and Umtata metropolitan branches and was told the same thing by these branches. all i ask is Metropolitan to pay my money in full not in mothly installments.</p> <p> </p> <p> </p>
We note your concerns regarding the proceeds of your government pension funds transferred to Metropolitan. The pension funds transferred to Metropolitan from the Government Employee Pension Fund is unfortunately subject to the prevailing legislation governing pension/provident/preservation funds. Metropolitan is compelled to adhere to this legislation.
We confirm that this is an active case with the FAIS OMBUDSMAN and is currently under review with the regulatory body. We await further comment and instruction from these offices which will also be relayed to yourself. I apologise for any delays experienced.
Kind Regards
Amanda Vraagom
Client Care
We note your concerns regarding the proceeds of your government pension funds transferred to Metropolitan. The pension funds transferred to Metropolitan from the Government Employee Pension Fund is unfortunately subject to the prevailing legislation governing pension/provident/preservation funds. Metropolitan is compelled to adhere to this legislation.
We confirm that this is an active case with the FAIS OMBUDSMAN and is currently under review with the regulatory body. We await further comment and instruction from these offices which will also be relayed to yourself. I apologise for any delays experienced.
Kind Regards
Amanda Vraagom
Client Care