GM
Gabisile M

1 reviews | Active since Nov 2021

28 Oct 2024, 11:58

Transfer of Annuity from Old Mutual to Metropolitan

My name is Bonisile Nkongiphile Gabisile Manamela, ID ***.

On the 18th of June 2024, I requested a financial adviser Patience Mahlangu to transfer the two annuities I have with Old Mutual to my existing annuity *** amounting to R18728.00. Once consolidated an amount of R500 must be debited every month against the consolidated policy.

I never received any good service from Patience, till today nothing has been done, all necessary documentation has been submitted, including Section 14 forms and proof of payment from Old Mutual.

I have to always call to check on the status of my request and she tells me I must call Old Mutual and find out. A lady by the name of Matlhodi Malaka intervenes. Now they are both not responding to me.

My request is to consolidate *** amounting to R18728.00 with Old Mutual R 102,263.73. to one annuity and debit R500 every month towards the consolidated policy. Now Patience has opened up a new Future Builder, which is what I don’t want. I can’t even claim on two pots. The two ladies are now ignoring me. On 16th of October i received an sms that the *** has been assigned to Tarryn Africa. Till date nothing no response has been received.

For the past five months i'm fighting one thing, i would never recommend Metropolitan to anyone.

I have all the communication between Old Mutual and Metropolitan. Ho

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Replies (1)
Metropolitan Life
Metropolitan Life's reply29 Oct 2024, 10:19
Official
Dear Gabisile

We acknowledge receipt of your complaint on HelloPeter.

We are sorry to read of the difficulties you have encountered with consolidating your Retirement Annuity proceeds.

Please be advised that the Section 14 transfer process is a very lengthy process that may take up to 180 days to complete.

One of our Escalation Specialists will investigate and revert back to you as soon as possible.

Regards

Client Care Team