Absolute ridiculousness non-communication and service

Transfer of Pension fund from previous employer fund to new employer fund.

I have been trying to have my Pension fund transferred from my previous employer (Administered by Old Mutual) to my new Employers fund Hortors Group (Administered by Alexander Forbes)

This has been an ongoing fight since I changed employment on 01 May 2021, it is now 3,5 months later and still no transfer has taken place.

Firstly, I had to play middleman between Old Mutual and Alexander Forbes as it was impossible for the 2 funds to speak to each other. I had to keep on following up with Old Mutual to find out where in the process they are even though I gave the details of the person whom needs to be contacted at Alexander Forbes every single time.

One has to beg the information out of Old Mutual that is if you are lucky enough to be able to speak to someone as there is no direct contact. Emails every time will go to a new person, calls every time to a new person.

Yesterday 19 August 2021 was really the last straw. When I finally came through to someone. I requested when the transfer would take place as I can see a Tax Directive was issued on 6 August 2021. Just to be informed that it was declined and Old Mutual needed to re-apply. (Do not understand how an IRP3e would be issued if it was declined) Not that I was informed by Old Mutual as communication seems to be too much effort. And when requesting an update on the WhatsApp line it just returns: “Your claim is in the process of being sent to SARS for tax application.” Interesting as I have access to an IRP3e issued on 6 August 2021. Then I asked the agent what is the reason that the tax directive had been declined…. I was put on hold…. 5 minutes…. nothing 10 minutes…. Next moment my call was ended and I had to rate Old Mutual, unfortunately I did not have an option to rate as ZERO. No one has called me back to finish the call or provide a reason.

Seems Old Mutual does not have the funds to handle this transfer.

I will never voluntarily make use of Old Mutual and will discourage any business / person to make use of Old Mutual.