JV
JH V

1 reviews | Active since Oct 2023

16 Apr 2025, 21:54

Momentum Pension Service Tax Percentage debacle

A year ago, (March 2024), I received a mail from Momentum with regards to a change in the tax percentage on my monthly pension, to which I have responded, as requested, but in the end, my wishes and instruction was not attended to at the time. A lot of mistakes on their side was pointed out, but that didn't help at all. Finally, a few months later, as no monthly statement is supp**** and one cannot even download such a statement from their online portal, I realized that nothing was done and finally this was resolved during August 2024. This year, March 2025, there was no communication from Momentum on the matter, however they did amend the tax rates, and I picked up the difference through the monthly amount paid into my bank account. Why one year there is communication and the next year not, especially if one already has an instruction in place on the rate to be used .. ?? Surely then it is very important to discuss a potential change with a client... On 06 April 2025, I mailed them on the matter, some explanation was supp**** on the 07th, which did not really make sense to me, but they wanted me to confirm my preferred rate. I have responded positive on 07/04 as well. Now, 10 days later, on the portal, the wrong percentage is still showing, and I have submitted three (3) further follow ups on the matter to obtain status & progress and confirmation that the percentage was rectified. Besides the automated e-mail responses, only confirming that the mail reached their mailbox, there was no further response from them. This is totally unprofessional and confirm a total break on communication from them to us, the clients, also showing disrespect by not responding again since 07/04. Totally unacceptable and as a result, my perception to trust them, has been lowered substantially. I trust and hope this is not because I have used Afrikaans, as all my official correspondence from them in the past was mostly done in Afrikaans as well. I surely hope this will be resolved before this month's pension payment as in the end, this will result into a lot of other drama with SARS for the 2026 Ta year.

0
Replies (5)
Momentum (SA)
Momentum (SA)'s reply17 Apr 2025, 10:35
Official
Mr. van Vollenhoven

Your concerns have all been noted, and as the matter refers to your annuity contract, the matter has been escalated to the Annuity Department. One of the Annuity agents will be in contact with you, to resolve the concerns contained within your complaint.

Kind regards

EdB  
JV
JH V's update17 Apr 2025, 10:43
Reviewer Update
Noted,
I trust contact means I will be called as I do not appreciate the mail I have just received at all .. !!!
Seems like I'm the one at fault as per the mail received...
JHvV
Momentum (SA)
Momentum (SA)'s reply17 Apr 2025, 12:19
Official
Mr. van Vollenhoven

I have requested the Annuity Department to call you, to assist you accordingly.

Kind regards

EdB
JV
JH V's update17 Apr 2025, 14:02
Reviewer Update
Ek het na die algemene e-pos wat ontvang is van Momentum, vroeer toe self inges***el en die saak is toe opgelos met die hulp van Me H Meyer.
Ek het 'n dagboekaantekening gemaak om vir dieselfde doel, maar elke jaar vroeg in Maart reeds met haar ****ak te maak.
Sy verstaan my navrae en het begrip vir die probleem - mense soos sy is skaars en maak 'n uiters positiewe bydrae tot die beeld van Momentum by my as klient.
'n Ander persoon het later ook ges***el, maar toe was die probleem reeds opgelos gewees
Hierdie saak moet jaarliks, met die klient bespreek word, na gelang van die SARS aanpassing en die klient se persoonlike aanpassing, sodat dit elke jaar korrek aangepas kan word, betyds.
Baie Dankie.
Momentum (SA)
Momentum (SA)'s reply17 Apr 2025, 14:35
Official
Mnr van Vollenhoven

Ek verwys na die onlangse boodskap wat u geplaas het, en ek is baie bly dat u die nodige bystand ontvang het.

Alles van die beste,

Vriendelike groete,

EdB