NG
Nkosingiphile G

1 reviews | Active since May 2012

22 Jan 2018, 14:51

Waiting 5 months for a matured policy and momentum wont give valid reasons for not paying

My dad has an investment policy with Momentum that matured on the 1st of November 2017, Until today he has not received his money. Momentum keeps telling him to go to SARS to rectify his date of birth, while their financial advisor is the one that recorded it wrong. I have sent them detail of him (Dad) rectifying their (Momentum) mistake, which was done back in 1999. Every time we call, the consultants keep telling us to go to SARS, but as for what to do at SARS, we don't know. SARS has confirmed that his income tax number is linked to his correct ID number, the letter was sent by me to Momentum. My father has exhausted all his money calling Momentum and travelling to SARS for nothing. The worse experience was their lazy and inefficient consultant called MUNIR HOOSEN, he is not even interested in the explanation that I gave his about the history of this investment. All he is interested in is to tell me that my dad needs to go to SARS, yet all his SARS documents dated December 2017 were given to Momentum. According to him, the supervisors were also not available to assist us "apparently". Can someone please assist, before we take this matter to the Ombudsman.

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Replies (2)
Momentum (SA)
Momentum (SA)'s reply22 Jan 2018, 15:05
Official

I would like to thank you for bringing this matter to our attention.

It is unfortunate that you have not had a favourable service experience and would like to apologise for that. The matter will be investigated and feedback provided shortly.

Kind regards

CK

Momentum (SA)
Momentum (SA)'s reply06 Feb 2018, 09:40
Official

Due to an technical error between Momentum and SARS we were unable to obtain the tax directive previously. Our sincere apology for the frustration this caused. We have in the meanwhile submitted a manual directive application with SARS and subsequently received the tax directive.

I am pleased to inform you that payment was made to your father's nominated bank account yesterday. You were subsequently informed via a telephone call of the payment.

Kind regards

CK