IS
Izak S

1 reviews | Active since Apr 2016

30 Sept 2020, 20:54

Don't delay payout. Inform clients if you need anything from them and don't wait until they are expecting the payout.

The company i used to work for used Momentum Funds at work as a retirement annuity. When i got retrenched i requested to get paid out the money. This process takes 26 days according to them. After i submitted the claim i phoned them on 3 occasions to confirm they have everything. the first time they told me there was some UI19 form outstanding and i sent it to them. On both the other occasions they assured me that if anything else was outstanding they will phone me and let me know. After the 26 days was over i phoned them again and only then they told me that the employer that retrenched me did not pay the last premium and they are waiting for a response from them. If they receive a response from them it will take another 26 days before they pay out my money or maybe tell me they need something else. Really disappointed in them. Hopefully the employer that don't care anything about the retrenched employees won't take another year to respond to them because i really need this money.

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Replies (2)
Momentum (SA)
Momentum (SA)'s reply01 Oct 2020, 06:12
Official
Dear Izak

Your posting has been noted and I can assure you that you will be contacted shortly.

Kind Regards
FVB
Momentum (SA)
Momentum (SA)'s reply01 Oct 2020, 12:20
Official
Dear Izak,

We confirm that the administration Manager has contacted you.

Regards,

Sue.