A very frustrating and unprofessional experience accessing my retirement annuity with old mutual

I have a serious concern to raise and a major bone to pick with Old Mutual regarding the exhausting and unnecessarily complicated process of accessing my retirement annuity. This journey, which started on the 28th of March 2025, has been nothing short of disappointing, confusing, and financially draining. It has now been over a month and a half, and I am still without any concrete feedback or resolution.

Let me take you through the timeline:

1. Initial Application - 28 March, Cape Town Branch

I visited the Old Mutual branch in Cape Town, where I was assisted in filling out the required forms to begin the process of accessing my retirement annuity. I was informed that I would receive a message within seven working days, instructing me to return to the branch to proceed.

2. Discrepancies Begin

A friend of mine who started the same process after me informed me that she had already received her message within a week. Meanwhile, I had received nothing. I followed up with the consultant who assisted me that day (we had exchanged numbers), and she told me to wait. I comp****, patiently.

3. Visit to Khayelitsha Branch – Easter Weekend

Concerned about the delay, I visited the Khayelitsha branch, my closest branch, over the Easter weekend. I was told that one of my forms was not signed during the initial application. The consultant said we needed to start the process again and resubmit all documents, which we did. Again, I was told to wait seven days.

4. Visit to Liberty Promenade Branch – Early May

Still receiving no message, I visited the Old Mutual branch in Liberty Promenade on or around the 1st of May. It was there that I was told nothing had been submitted, my profile was not updated, and the policy still reflected as active with monthly contributions. I had clearly stated I wanted the annuity cancelled and the funds I had saved released. The consultant there finally did everything properly, submitted my request, and again told me to wait seven days.

This time, I did receive a message – finally – requesting that I visit the branch with my payslip and tax number.

5. Branch Visits & Offline Systems

When I visited the branch again (exact date unknown), I was told the system was offline. The delay continued.

Then, on Saturday the 10th of May, despite the heavy rain in Cape Town, I went to the Khayelitsha branch only to be told that there was no record of me applying for a retirement annuity withdrawal. To make matters worse, I was told that I did not qualify for a loan, which confused me, as I have never app**** for a loan with Old Mutual. This was completely irrelevant to my request and shows a complete lack of communication and understanding across branches.

6. Final Straw – 13 May Visit

Today, the 13th of May, I made yet another trip to the Promenade branch, only to be told yet again that the system is offline. This is now becoming a recurring excuse, and I am left with no progress despite having done everything I was instructed to do.

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In Summary: • I’ve made multiple visits to three different branches: Cape Town, Khayelitsha, and Liberty Promenade. • I’ve submitted the same documents more than once and had to restart the process multiple times. • I’ve incurred travel costs and wasted time, only to be met with system errors and contradicting information. • Staff at different branches seem completely uncoordinated, and I get told different stories every time I visit. • Meanwhile, my friend who started her application after me has already received her funds.

This experience has been emotionally taxing, financially draining, and deeply unprofessional on Old Mutual’s part. I feel like I’m being sent in circles with no real help or urgency being shown to resolve my request.

I am now formally requesting: 1. Urgent feedback and clarity on the status of my application. 2. A senior consultant or manager to contact me directly and walk me through the next steps. 3. An explanation as to why this process has taken so long, and why my application has been mishandled multiple times. 4. A full investigation into the conduct and coordination of staff at all three branches.

I am not indebted to Old Mutual – I simply want access to the funds that I have invested.