Momentum and Fairheads Passing Responsibility While Minor Beneficiary Waits

I submitted a death claim for a retirement annuity with Momentum in June 2026. To date, the claim remains unresolved. There are three beneficiaries involved. One beneficiary has already received their payout, while another is a minor beneficiary whose share was transferred by Momentum to Fairheads for the establishment of a beneficiary trust account.

Momentum transferred the minor beneficiary's share to Fairheads on 16 September 2026. However, as of 10 November 2026, the trust account has still not been established. Fairheads has repeatedly advised me that they are awaiting a response from Felicia Gumede at Momentum regarding emails they have sent and that they are unable to proceed with opening the account until they receive the required response.

I have been continuously referred back and forth between Momentum and Fairheads, with neither party taking ownership of the matter. When I contacted Momentum, I was informed that they had no knowledge of the emails Fairheads claims to have sent.

This ongoing delay has caused significant frustration and concern. I am extremely disappointed by the apparent lack of communication, accountability, and urgency displayed by both parties. In all my dealings with financial institutions, I have never experienced such a level of unprofessionalism. I would appreciate immediate intervention and a clear resolution timeline for this matter.