FN
Funeka N

1 reviews | Active since Jul 2015

20 Nov 2023, 01:43

MOMENTUM NON PAYMENT OF FUND

It frustrates and saddens me that I have to report to writing this email. My husband started the withdrawal process four months ago. From month to month, we have been sent from pillar to post. Two months ago, we were told we would have to wait 21 working days. The 21 days came and went nothing was paid. Then we were told the monies have been disinvested and that they would be paid out. Then we were told they have app**** for directive. The 24 hours of directive lapsed and then we were told the application was not process properly and that we were to start process afresh. Ok we started the process afresh then we were told the claim is waiting administrator allocation. That took two weeks then last Tuesday we were told that its finalized and then its going to SARS for directive. The 48 hours lapsed and Friday we were to receive the funds and nothing no explanation nothing. Now we have been patient and unfortunately this affects our bottom line I will take this up with your board today. Its cannot be business as usual when we cannot even put food on the table and big cooperatives live momentum are de*****ing their members.

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Replies (3)
Momentum (SA)
Momentum (SA)'s reply20 Nov 2023, 11:18
Official
Dear Funeka
Thank you for your message.
Kindly confirm your policy number for me in order to route your complaint to the correct team for urgent assistance.
Kind regards
Mvdm
FN
Funeka N's update21 Nov 2023, 10:38
Reviewer Update
Hi Mvdm

Early last week we were told that the funds have been disinvested and directive was app**** for. Yesterday Bonani told us that SARS efilling was down. So the directive was never app**** for. So yesterday they app**** for directive.
The lies are shocking. I have brought this to the attention of the trustees of the fund at South Africa Airways. This need to know what their members go through after years of contributing to the fund.

Regards,


Momentum (SA)
Momentum (SA)'s reply21 Nov 2023, 14:55
Official
Dear Funeka
Thank you for your message. 
Your complaint has been referred to the relevant Fund Managers for urgent attention.
Kind regards
Mvdm