Unresolved withdrawal

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

Good day,

I submitted my withdrawal request on 25 February 2025, yet it remains unresolved. This delay is unacceptable. Every time I follow up, I receive excuses about administrative errors or the administrator not being available. This is not my concern—Momentum must take responsibility for ensuring timely processing.

What am I expected to do if the administrator is unavailable? Simply wait indefinitely while my funds remain in limbo? I need an immediate resolution.

Please provide urgent feedback on the status of my withdrawal and an exact timeline for when this will be finalized. The delays and lack of accountability in this process are completely unreasonable.

I expect a response without further excuses.

Kind regards, Tarryn

Helpful (0)

Replies (5)

Momentum (SA)'s replyOfficial

31 Mar 2025, 10:21

Good day Tarryn,

Thank you for bringing your concerns to our attention.

The matter has been escalated to the fund manager for assistance and feedback.

Kind regards
NH

Momentum (SA)'s reply31 Mar 2025, 10:21

Official

Good day Tarryn,

Thank you for bringing your concerns to our attention.

The matter has been escalated to the fund manager for assistance and feedback.

Kind regards
NH

Tarryn N's updateReviewer Update

31 Mar 2025, 12:24

A call has been placed and all I Harare is it I’m has been escalated. Seems like this is common terminology used by staff and yet nothing is concluded as this was supposedly escalated since last week? I want solution to what the issues is and want to see progress…not a company that is constantly wasting a consumers time by all the multiple follow up I had to do

Tarryn N's update31 Mar 2025, 12:24

Reviewer Update

Momentum (SA)'s replyOfficial

31 Mar 2025, 13:12

Good day Tarryn,

Thank you for your further comments.

We have referred your posting to the Funds at work and the Life division of Momentum and the managers are unable to trace a policy with the information you have provided.

Can you kindly confirm which division (e.g. Momentum Retirement Administrators, Short-term insurance, Investment, Medical aid or life cover etc.), in Momentum you were dealing with.
This will assist us to escalate the matter correctly for further assistance.

Thank you.

Momentum (SA)'s reply31 Mar 2025, 13:12

Official

Tarryn N's updateReviewer Update

31 Mar 2025, 15:17

It is momentum funds at work: retirement division. Ref ***

Tarryn N's update31 Mar 2025, 15:17

Reviewer Update

It is momentum funds at work: retirement division. Ref ***

Momentum (SA)'s replyOfficial

31 Mar 2025, 15:21

Thank you Tarryn, we have referred the matter accordingly.

Momentum (SA)'s reply31 Mar 2025, 15:21

Official

Thank you Tarryn, we have referred the matter accordingly.