svdm
sarel v d merwe

1 reviews | Active since Feb 2017

11 Aug 2023, 11:17

Momentum worst service

It is the worst service i had from Momentum to transfer my pension fund .IT is now 6 months and still waiting. you get no feed back ,You need to contact them to find out what is happening ,while they draw the interest on your money

0
Replies (12)
Momentum (SA)
Momentum (SA)'s reply11 Aug 2023, 11:36
Official
Dear Mr. van der Merwe,

I appreciate you raising your concerns with us.  They are indeed very disappointing and we certainly letting you down.  We will investigate and I can assure you that a manager will contact you.

Regards,

ND
svdm
sarel v d merwe's update14 Aug 2023, 21:33
Reviewer Update
ND phoned me and I gave her the details she required to forward it to funds at work department. I still waiting for a reply and answers about my transfer and ones again no feed back .How long wil it take this time another month so Momentum can draw interest.

Momentum (SA)
Momentum (SA)'s reply15 Aug 2023, 08:06
Official
Dear Mr. van der Merwe,

Your posting has been referred to the Fund Manger.


Regards.

ND
svdm
sarel v d merwe's update25 Aug 2023, 10:59
Reviewer Update
Once again you have to ask for feed back . The administrator say my transfer is a urgent case Now she is not in the office. Every week she is not at the office at the end of the week .Now another week passed and no feedback or action .I am so frustrated of waiting for 6 months .
Momentum (SA)
Momentum (SA)'s reply25 Aug 2023, 11:07
Official
Dear Mr. van der Merwe,

Thank you for your posting. I have referred the matter again to the Fund Manager.

Regards,

ND
svdm
sarel v d merwe's update29 Aug 2023, 09:07
Reviewer Update
My Tax Directive had to be cancelled that i undestood .It was cancelled on the 25th AUG .Momentum have to submit n new Tax Directive . Now my TRF funds must move to amonye market portofolio that was not mentioned at all from the beginning and not done with the previous claim .A Tax Directive take 24 hours . Tersia of Momentum said to me in the beginning of the claim about 3 weeks back that it will be settled .Then she said after the tax directive cancellation it will be a week delay to settle my claim .Now there is new excuse of the funds must be moved to a money market that should have been done two weeks back. Then they promise feed back ,then i must ask for feedback .
Momentum (SA)
Momentum (SA)'s reply29 Aug 2023, 09:11
Official
Dear Mr. van der Merwe,

Thank you for your posting. We have again redirected your posting to the Fund Manager to investigate and contact you.

Regards,

ND.
svdm
sarel v d merwe's update29 Aug 2023, 19:57
Reviewer Update
And again Momentum reply we again redirected your posting to the fund Manager to investigate and contact you since 11 Aug 2023 .No call or email from the funds manager up to date . No wonder Momentum Stats is 2513 1 star AT 77% AND #70 ON THE LIST THE LAST 12 MONTHS on Hellopeter .
svdm
sarel v d merwe's update01 Sept 2023, 12:25
Reviewer Update
Once again Momentum promised that the claim and tax directive will be sorted today .Got feedback today the claim was not approved on Wednesday .The first claim was approved fast and with no problems ,now some one is dragging their feet or don't know there job .I battle now with fund at work the last 3 months .One excuse on the other.People don't invest with Momentum ,if you going to claim it will take 6 months to a year for them to pay out.
Momentum (SA)
Momentum (SA)'s reply01 Sept 2023, 12:34
Official
Dear Mr. van der Merwe,

Thank you for your posting. We have redirected your posting to our Employee Benefits department.

Regards,

ND
svdm
sarel v d merwe's update04 Sept 2023, 14:20
Reviewer Update
And here we go again . Another excuse not to pay out . Momentum got the tax directive and now there is an issue that they need there tax specialist and IT department.Everyday is there one or other excuse not to pay out . Momentum I won't even insure my wheelbarrow with you .
Momentum (SA)
Momentum (SA)'s reply20 Sept 2023, 08:02
Official
Dear Mr van der Merwe,

Thank you for your posting. We have again referred the matter to Employee Benefits for their attention.

Regards,

ND