1 reviews | Active since Jul 2014
Disgruntled customer regarding Telkom Retirement Fund
It is with absolute frustration and disgust that i write this review about Momentum administration of the Telkom retirement Fund. I early retired at the end of March 2025. To date I have not received my monthly pension payment. Telkom HR advised me to have sufficient funds for 2 months to cater for my monthly debit orders however now it's FOUR months later with no pension payment. I have chatted with Momentum staff on numerous occasions and they constantly make empty promises and give me excuses for the delay. 1st they blamed SARS now 4 months later they seemed to have captured the incorrect amounts on my application hence further delays. I have requested to speak to their superiors or manager on numerous occasions and the staff have been extremely hesitant to give me their managers details and to date I have not been able to speak to a Momentum manager. My wife too had early retired and her pension was also delayed and took 3 months to be received. I am based in Durban and there is no office to visit to have this resolved. It seems Momentum administers retirement funds for many corporates however Momentum does not have the resources, compassion nor the efficiency to manage various retirement funds. Momentum is biting off more than they can chew just to make more money at the cost of innocent people. Momentum does not care about how people will manage all their monthly expenses for so many months without a monthly income! This matter is going on since end March with no progress in sight. Please can this matter be investigated with Momentum as it's clear Momentum is unable to manage their work load effectively.
Thank you for bringing your concerns to our attention and we are really sorry for experience that you had this far.
We have escalated your posting to the fund manager for assistance and feedback.
Kind regards
NH
Thank you for bringing your concerns to our attention and we are really sorry for experience that you had this far.
We have escalated your posting to the fund manager for assistance and feedback.
Kind regards
NH
