Unacceptable Pension Fund Delay – Urgent Resolution Needed!

Item: Momentum (SA)
Rating: 1
Author: Nozizwe N

My mother dedicated 19 years of service to a private hospital group, contributing to a pension fund administered by Momentum. After a serious health issue forced her into early retirement in August 2024, her pension withdrawal was submitted to Momentum on August 16, with an expected turnaround of 6 weeks.

On September 16, Momentum claimed they had only just received the paperwork, setting a new 26-working-day timeline. Today (October 22), after 26 working days, we’ve been told that **nothing has been done on the claim**, and it has now been escalated, with no clear timeframe for resolution.

This delay is **deeply distressing** for my mother, who has been self-sufficient her entire life and is now facing severe financial strain. She has policies about to lapse, and her health is deteriorating due to the stress caused by this delay.

It is unacceptable that she must wait another 5-6 weeks due to internal inefficiencies. We urgently need this matter to be resolved as soon as possible.

Please escalate this claim, provide a clear timeline, and ensure my mother receives the pension payout she is rightfully owed.

Helpful (0)

Replies (4)

Momentum (SA)'s replyOfficial

22 Oct 2024, 12:05

Dear Ms. Nuku,

Thank you for your posting. We have redirected the matter to the Fund Administrator for further assistance.

regards,

ND

Momentum (SA)'s reply22 Oct 2024, 12:05

Official

Dear Ms. Nuku,

Thank you for your posting. We have redirected the matter to the Fund Administrator for further assistance.

regards,

ND

Nozizwe N's updateReviewer Update

23 Oct 2024, 12:12

@Momentum no one has reached out yet. Your call wait times are very long not to mention costly. All she would like to know is since your 26 day TAT has lapsed what is the way forward because she is not willing to wait another 26 days? What is being done about her case what steps are being taken to correct the situation and what is the new TAT? We were told it was an IT error how is this being remedied if you are still investigating when can we expect feedback will we have to call you for feedback or will you contact us?

Nozizwe N's update23 Oct 2024, 12:12

Reviewer Update

Nozizwe N's updateReviewer Update

08 Nov 2024, 08:50

We still have no feedback as to a new TAT you cannot expect a person who retired in August to still be sitting without her payout and no idea when she'll get it especially when she's ill and has no alternative income , we have followed up at least twice a week since the 22nd of October all of your representatives say they'll call back with feedback, Molemo or Ziyanda will call back, Molemo herself promised to call back and never did, you said it's been escalated but till today nothing has changed since we spoke to Malvern this morning what exactly does escalation mean if no work has been done on the policy I can't believe my mother has to jump through so many hoops to get what is rightfully hers when she needs it the most.

Nozizwe N's update08 Nov 2024, 08:50

Reviewer Update

Momentum (SA)'s replyOfficial

08 Nov 2024, 09:32

Dear Ms. Nuku,

Thank you for your post. I have again redirected the post to the Funds@Work department and asked that they attend to the matter and provide you with feedback.

Regards,

ND

Momentum (SA)'s reply08 Nov 2024, 09:32

Official

Dear Ms. Nuku,

Thank you for your post. I have again redirected the post to the Funds@Work department and asked that they attend to the matter and provide you with feedback.

Regards,

ND