1 reviews | Active since Mar 2026
43-Day Delay of R1.838M Payout - Maladministration & Holding Cash
I am a member of the Momentum FundsAtWork Umbrella Fund and I am being subjected to gross maladministration regarding my R1,838,929.79 benefit. Despite submitting a clear 100% cash withdrawal (FAW039) instruction on 3 February 2026, Momentum have failed to pay me. The Delay: My account was disinvested to a Zero Balance on 7 March 2026. Momentum has now held my liquid cash for 12 days without applying for a SARS Tax Directive. Unauthorized Action: Without my consent, my funds were moved to an internal preservation fund. I am now being told I must wait another week for 'allocation' while my money sits in a Momentum account earning me zero interest. Lack of Communication: Momentum’s call centre repeatedly cuts my calls when I ask for a SARS Case Number. I have an open Pension Funds Adjudicator (PFA) case: MP\***8\2026. I am also claiming interest at the prescribed rate of 10.25% p.a. (R516.41 per day) from the date of disinvestment. I demand a call from a Senior Manager in the Paid-up Withdrawals Department with a confirmed SARS Case Number. Do not send a generic 'we have escalated' reply.
Thank you for bringing your concerns to our attention. We sincerely apologise for any inconvenience this may have caused.
Kind regards
NH
Thank you for bringing your concerns to our attention. We sincerely apologise for any inconvenience this may have caused.
Kind regards
NH
Your feedback has also been referred to the FundsAtWork team for further assistance.
Your feedback has also been referred to the FundsAtWork team for further assistance.
