BE WARNED ABOUT OLD MUTUAL AND THEIR ADVISORS

If you have a policy/annuity with them please make sure that they can read and update your beneficiaries on your annuity. They made a "admin error" by paying over R1 700 000 to SARS in taxes, apparently because there was "no beneficiary" When in fact there was a sole beneficiary in black and white on all documents. They paid out a lumpsum to the estate account. Which in turn gave an advance to the widow to make a living. Now OLD MUTUAL expects the widow to pay back ALL the money and only then will they try and reverse the taxes paid to SARS. The advisor also never declared the death of his client to his employer and with this he still received his commission for another almost 6 moths. We have been trying to get some answers and a plan with the way to go forward but has had no reply. We tried the ombudsman but was then informed that they only handle cases less than R800 000. Why should the widow be punished for someone at OLD MUTUAL mistakes.