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Lee-Ann Duka

1 reviews | Active since May 2013

30 Oct 2024, 09:49

1 Retirement savings taxed twice after submitting a withdrawal

My brother worked for a certain company in EC and was dismissed in Aug, Oct we claimed for his Retirement money which was a lumpsum only for him to get Two port payment... Mind you we didn't apply for Two pot withdrawal but for his money to be transferred into his bank account. We enquired via the previous employer only to be told that that's how Old Mutual is processing claims why because He will be taxed for Two pot which he didn't apply for, then the remainder of the money will also be taxed again when they do the actual claim. So old mutual is putting 1 claim twice why? When we was dismissed in Aug Two pot wasn't implemented, when we were busy with the claim he was no longer employed so why process a claim on two pot???

1 retirement savings taxed twice 😡😡

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