DO NOT INVEST YOUR RETIREMENT WITH MOMENTUM

I am writing this complaint on behalf of my father. I will enter all his details.

Let this be a warning to anyone that wants to “invest” in their retirement with Momentum. They want your money but when the time comes to pay it out, it is a whole different ball game.

My father went on retirement and his last day was 28th of February 2021. The first time he phoned Momentum was the 11th of March and they informed him that his employer took their time in submitting his last pension payment to Momentum. They said it would be paid within five working days. He was happy with that.

The funds did not reflect on the 5th working day so he phoned again on the 18th of March and they told him 5 working days again. Unfortunately his airtime ran out and they said that they would phone him back. They have still not phoned him back. He phoned them again today and they said 6 working days!!! When my father lost it, they then said 2 working days and he needs to phone back on Tuesday 23rd of March. What absolute nonsense is this??

Why do you lie to pensioners? Why can the truth not be told? You cannot promise within 5 working days and the funds do not reflect within 10 working days. If there is any other issue, surely you should inform my father and not lie to him?

Does Momentum find pleasure in keeping pensioners money? Does Momentum gain some sort of interest on pensioners money?

This is absolutely disgusting. We really did not expect this to be such a hassle.

Not too mention the airtime that is wasted on these calls