1 reviews | Active since Feb 2014
Bad Retirement Annuity Experience
I recently decided to move my RA fund allocation around a bit. I did research and found a list of the Top10 performing RA funds of 2014. I wanted to invest some of my money in one or two funds on this list. I had a look and saw that OM only made one of these funds available. I proceeded to switch my money to 2 funds that have been doing well over the last couple of years, as well as the one fund on that list. A couple of days later I received an email from OM, informing me that that one fund is in fact not available, even though their online platform allowed me to switch money to it. I then asked them if they have any of the other on that list available and they rep**** that they don't. The result of this was that I was not able to invest in some funds that I wanted to. I also had to repeat the process of printing out the forms to switch funds, filling them in, scanning them and sending them to OM. This takes quite a bit of time. I have since decided to not increase my annual contribution to my retirement annuity with OM. I have opened up an additional RA with another provider, where I am able to select from a lot more funds. I really think this is an area where OM should improve.
I apologise for the inconvenience we caused you.
I am investigating the information displayed on our website and will ensure that steps are put in place to ensure that the information is relevant at all times. Thank you for bringing this to our attention.
We do offer a variety of funds to cater for all risk (low and high) profile investors.
Kind regards
Nicolette du Toit
Best regards,
I apologise for the inconvenience we caused you.
I am investigating the information displayed on our website and will ensure that steps are put in place to ensure that the information is relevant at all times. Thank you for bringing this to our attention.
We do offer a variety of funds to cater for all risk (low and high) profile investors.
Kind regards
Nicolette du Toit
Best regards,
