EC
Ena-Marié Carstens

1 reviews | Active since Dec 2016

12 Jan 2022, 11:11

12 weeks (and counting) delay in paying out Provident Fund

For two years I had a compulsory Provident Fund with Momentum, where my employer and myself contributed to on a monthly basis. After I resigned I opted for the funds to be paid out to me. I was informed that this process would take 6 to 8 weeks. I am almost in week 12 and haven't received a cent from Momentum (and I had quite a lot of funds in my Provident Fund). After going back and forth trying to figure out why my money is not being paid someone said to me there are outstanding documents. However, until today I have not received any communication from Momentum to tell me what is outstanding or in fact that there is something outstanding. And on top of that the so-called broker who is suppose to help me tells me that the Momentum Administrator delayed in submitting my documents (12 weeks ago). Now I am being punished for their poor work ethic. Thank goodness I opted to pay out my Provident Fund and I moved my health insurance to Discovery. Momentum is a bunch of amateurs who honestly don't put their customer first.

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Replies (1)
Momentum (SA)
Momentum (SA)'s reply14 Jan 2022, 08:15
Official
Dear Ms. Carstens,

Thank you for your posting. We will refer the matter to our Employee Benefits department to investigate and contact you.

Regards,

ND.