1 reviews | Active since May 2018
ABSOLUTELY TERRIBLE MANAGEMENT AND ADMINISTRATION OF FUNDS!!
I logged a claim for withdrawal on my provident fund on the 11th of February 2020 and submitted all the required forms. I was told that my claim would payout within 21 business days. I then phoned (I PHONED TO FOLLOW UP) on how far my payment was, and this was on the 12th of March 2020 (22 business days later). I was told that IT WASN'T ATTENDED TO AS YET and they will flag it for someone to attend to it. I phoned today to find out far the claim was and got told that they just received feedback on my tax directive!!!! THE FINANCIAL MARKET HAS CRASHED AND DUE TO THE LACK OF ADMINISTRATION MY CLAIM TOOK FOREVER TO PROCESS AND DUE TO THIS I AM AT A BIG LOSS. HOW WILL OLD MUTUAL REDEEM THEMSELVES ON THIS MATTER. THIS IS ABSOLUTELY PATHETIC AND A CASE OF GROSS NEGLIGENCE!! I WILL NEVER INVEST ANY MONEY WITH OLD MUTUAL AGAIN!
We acknowledge receipt of your complaint. This matter will be investigated and I will be in contact with you.
Regards
Carol Olckers
Old Mutual Complaints Management
We acknowledge receipt of your complaint. This matter will be investigated and I will be in contact with you.
Regards
Carol Olckers
Old Mutual Complaints Management
Thanks for getting back to me on my investment and for making sure that it was paid out this morning, however, it still doesn't answer my question of how Old Mutual will recover the money which I have lost due to the negligent way in which Old Mutual handled my claim.
As I stated, I lodged a claim on the 11th of February when my fund was in a much healthier position. But due to Old Mutual gross negligence of handling my claim payout in time, the market dropped considerably and hence I lost money. I should not be held accountable for the poor management and the statement made that the money will be paid out up to 21 working days.
Old mutual ONLY ACTIONED (flagged) the claim when I called in on the 12th of March 2020.
How will you reimburse me for my loss????
Thanks for getting back to me on my investment and for making sure that it was paid out this morning, however, it still doesn't answer my question of how Old Mutual will recover the money which I have lost due to the negligent way in which Old Mutual handled my claim.
As I stated, I lodged a claim on the 11th of February when my fund was in a much healthier position. But due to Old Mutual gross negligence of handling my claim payout in time, the market dropped considerably and hence I lost money. I should not be held accountable for the poor management and the statement made that the money will be paid out up to 21 working days.
Old mutual ONLY ACTIONED (flagged) the claim when I called in on the 12th of March 2020.
How will you reimburse me for my loss????