BC
Benzi C

1 reviews | Active since Dec 2019

12 Dec 2019, 13:54

*********** service from Momentum Corporate Preservation Fund

I had a retirement annuity fund with Momentum on my previous employer but when I resigned in August I advised to cash out the balance. I was asked for bank statements and supporting documents to process the withdrawal which I did. I was also sent notifications to confirm that the withdrawal would be processed in a specific period. A month later closer to the payment I was called by a Momentum employee apologizing that they had made a mistake and had transferred the money back into the fund plan which I didn’t instruct. I was now told I have to wait for 26 working days (after waiting over 2 months already) for the money to be sent to my account. This was a fault on Momentum’s staff, I don’t know why this has to affect me so drastically. When I spoke to the management there seemed to be no sense of urgency or concern as I was just told to wait. This is beyond *********** for such a big company as Momentum. I can’t even say I know for sure when my money would be paid out as no date was confirmed. I have no received and feedback or response to the emails I sent. I am highly disappointed at the level of service I have received from momentum Funds at Work department

0
Replies (2)
Momentum (SA)
Momentum (SA)'s reply12 Dec 2019, 14:27
Official
Thank you for bringing this to our attention. The matter will be escalated to management for urgent assistance.

Kind regards
NH
BC
Benzi C's update12 Dec 2019, 14:42
Reviewer Update
Thank You. That will be highly appreciated