IK
Ingrid K

1 reviews | Active since Oct 2016

05 Apr 2018, 15:48

Inefficiency and delayed payments

I am horrified at the total inefficiency and continued errors and lack of action in processing my one third retirement annuity payout - which is not a very large sum. I do hope "heads are going to roll" and that some proof of disciplinary action is apparent. In this electronic age, the company was unable to apply for a tax directive online and when they did eventually apply for the directive, app**** for the incorrect amount and proceeded to make promises as regards funds being transfered into my bank account. I have just been notified that 10% of the actual value of the one third has been transfered. I cannot believe this !!! I now have a promise that I will receive the funds tomorrow. Or, is this another diversion ? My only other comment, fortunately I did not re-invest with the company.

0
Replies (4)
Momentum (SA)
Momentum (SA)'s reply06 Apr 2018, 08:01
Official

Please accept our sincere apologies for the inconvenience and frustration caused. I will investigate the matter and provide you with the relevant feedback.

Kind regards

Natasha

Momentum (SA)
Momentum (SA)'s reply06 Apr 2018, 09:09
Official

Dear Ms Kemp

Firstly I would like to take this opportunity to sincerely apologise for the inconvenience and frustration caused, due to procedural and service oversights.

I can assure you that this is not the type of service that Momentum provides to their policyholders and corrective action has been implemented to ensure that the disappointing level of service provided is not repeated.

The one third payment has been made into your bank account this morning and should be available within the next hour.

Kind regards

Natasha

IK
Ingrid K's update06 Apr 2018, 11:21
Reviewer Update
Dear Natasha Thanks so much for your assistance in this regard. The matter has now been resolved to my satisfaction. It is most encouraging when Senior Management in Corporates respond, take action and are concerned with daily business. Your efforts are much appreciated. Kind regards
Momentum (SA)
Momentum (SA)'s reply06 Apr 2018, 12:13
Official

Dear Ms Kemp

Thank you so much, I really appreciate the positive feedback.

Kind regards

Natasha