mm
madeleinjade.stewart madeleinjade.stewart

1 reviews | Active since Dec 2016

23 Dec 2020, 12:04

Momentum Funds at work South Africa, the WORST company to deal with.

I resigned from SAA and my withdraw documents for my pension fund at Momentum funds at work were submitted on 11 November 2020. I was in desperate need for the funds to be paid out as I was about to lose my home. According to their SLA my money should have been paid to me within 26 days, today is already day 36 and Momentum just doesn't have any sympathy with my situation and what I'm going through. I have been following up constantly with emails and phone calls and out of desperation even appointed a broker to help me get my money paid. Last week the administrator working om my account (Carmen Basson) had the audacity to inform me that Momentum will be closed from 18 December and only reopening on 4th of January 2021 and that she will check of the funds can be paid when she returns on the 4th. This after numerous desperate pleads explaining my dire financial situation. Momentum is still in possession of MY money and basically refusing to pay it as they are over their service level agreement of 26 days and can't give me any reason as to why there is a payment delay, they confirmed that my withdraw documents were complete and I know that my tax returns and all SARS related issued are 100% up to date. Now while the staff and management of Momentum funds at work are on their nice Christmas and New year holiday I'm in the process of losing my house and this would have all been avoided if they paid the funds as per the turn around specified on their SLA. There is no one on duty now to assist me so I am now at their mercy and their poor service is costing me everything. I would not recommend Momentum at all, if this is how they handle situations like this I can't imagine that their other services offered are any better.

0
Replies (2)
Momentum (SA)
Momentum (SA)'s reply23 Dec 2020, 12:07
Official
Your posting has been duly noted and will be referred to management of the fund for urgent assistance and feedback.

Kind regards
NH
Momentum (SA)
Momentum (SA)'s reply23 Dec 2020, 13:32
Official
Dear Madelein

Management has confirmed that they have emailed the information to you.

Kind regards
NH