CS
Charnelle S
1 reviews | Active since Jan 2022
14 Jan 2022, 09:46
ZERO INCOME - DELAY ON PENSION PAYOUT
This review is per my father's current situation with Momentum.
It has been 3 months without any income from my pension fund after retiring. We are (apparently) at the mercy of the fund administrator regarding the transfer of the pension fund to an investment account from which monthly income can be withdrawn.
How can anyone survive on ZERO income for 3 months, when they have had an income for their whole life?
Funds must reflect by the 15th of the month at my new investment company in order to receive any income for this month, tomorrow is the 15th. Am I going to have to endure another month of no income?
I have had no communication at all.
I'm not sure how else to get the attention of the fund administrator at Momentum and unfortunately "we are busy" wont cut it.
What now?
Helpful (0)
Replies (5)0
Replies (5)
Momentum (SA)'s replyOfficial
14 Jan 2022, 19:02Thank you for bringing your father's unfortunate situation to our attention.
Unfortunately, the limited information you provided is not allowing us the opportunity to investigate your concerns further. Please provide us with the following additional information; your fathers full names, surname, identity number, name of the employer and any other information that will assist us in our investigation. You may add the required information as additional information on this posting or alternatively post it as a private reply on this posting.
Kind regardsCK
Unfortunately, the limited information you provided is not allowing us the opportunity to investigate your concerns further. Please provide us with the following additional information; your fathers full names, surname, identity number, name of the employer and any other information that will assist us in our investigation. You may add the required information as additional information on this posting or alternatively post it as a private reply on this posting.
Kind regardsCK
Momentum (SA)'s reply14 Jan 2022, 19:02
Official
Thank you for bringing your father's unfortunate situation to our attention.
Unfortunately, the limited information you provided is not allowing us the opportunity to investigate your concerns further. Please provide us with the following additional information; your fathers full names, surname, identity number, name of the employer and any other information that will assist us in our investigation. You may add the required information as additional information on this posting or alternatively post it as a private reply on this posting.
Kind regardsCK
Unfortunately, the limited information you provided is not allowing us the opportunity to investigate your concerns further. Please provide us with the following additional information; your fathers full names, surname, identity number, name of the employer and any other information that will assist us in our investigation. You may add the required information as additional information on this posting or alternatively post it as a private reply on this posting.
Kind regardsCK
CS
Charnelle S's updateReviewer Update
14 Jan 2022, 22:14I have rep**** with the requested (very sensitive) information, privately
CS
Charnelle S's update14 Jan 2022, 22:14
Reviewer Update
I have rep**** with the requested (very sensitive) information, privately
Momentum (SA)'s replyOfficial
17 Jan 2022, 09:29Thank you for the additional information provided.
The complaint has now been referred to the applicable business unit and a representative will be in contact with your father as soon as possible.
Kind regards
CK
The complaint has now been referred to the applicable business unit and a representative will be in contact with your father as soon as possible.
Kind regards
CK
Momentum (SA)'s reply17 Jan 2022, 09:29
Official
Thank you for the additional information provided.
The complaint has now been referred to the applicable business unit and a representative will be in contact with your father as soon as possible.
Kind regards
CK
The complaint has now been referred to the applicable business unit and a representative will be in contact with your father as soon as possible.
Kind regards
CK
CS
Charnelle S's updateReviewer Update
19 Apr 2022, 19:10Hi, this matter is not resolved - still no payout.
Now it's the employer and SARS to blame for the delay.
The responses remain "we have sent an email" or "we have followed up" -
A few million rand just laying in momentums account while making excuses as to why it's not paying out.
I actually cannot believe the lowest level of service received.
Now it's the employer and SARS to blame for the delay.
The responses remain "we have sent an email" or "we have followed up" -
A few million rand just laying in momentums account while making excuses as to why it's not paying out.
I actually cannot believe the lowest level of service received.
CS
Charnelle S's update19 Apr 2022, 19:10
Reviewer Update
Hi, this matter is not resolved - still no payout.
Now it's the employer and SARS to blame for the delay.
The responses remain "we have sent an email" or "we have followed up" -
A few million rand just laying in momentums account while making excuses as to why it's not paying out.
I actually cannot believe the lowest level of service received.
Now it's the employer and SARS to blame for the delay.
The responses remain "we have sent an email" or "we have followed up" -
A few million rand just laying in momentums account while making excuses as to why it's not paying out.
I actually cannot believe the lowest level of service received.
CS
Charnelle S's updateReviewer Update
05 Oct 2022, 18:586 months later... Still waiting. And now, you are unable to give us a correct IRP5 and my fathers tax directive is incorrect causing a huge issue with his tax return.
I actually don't know what else to do. This month marks a YEAR - 12 MONTHS - WITH ZERO INCOME
Please can someone at a senior level of management contact us.
R3.3m SITTING IN YOUR CARE NOT ACCRUING ANY INTEREST and we are not getting answers.
I actually don't know what else to do. This month marks a YEAR - 12 MONTHS - WITH ZERO INCOME
Please can someone at a senior level of management contact us.
R3.3m SITTING IN YOUR CARE NOT ACCRUING ANY INTEREST and we are not getting answers.
CS
Charnelle S's update05 Oct 2022, 18:58
Reviewer Update
6 months later... Still waiting. And now, you are unable to give us a correct IRP5 and my fathers tax directive is incorrect causing a huge issue with his tax return.
I actually don't know what else to do. This month marks a YEAR - 12 MONTHS - WITH ZERO INCOME
Please can someone at a senior level of management contact us.
R3.3m SITTING IN YOUR CARE NOT ACCRUING ANY INTEREST and we are not getting answers.
I actually don't know what else to do. This month marks a YEAR - 12 MONTHS - WITH ZERO INCOME
Please can someone at a senior level of management contact us.
R3.3m SITTING IN YOUR CARE NOT ACCRUING ANY INTEREST and we are not getting answers.