Complaint: Old Mutual Two‑Pot Withdrawa

I initiated my two‑pot withdrawal at the beginning of April. The only correspondence I received was that the request was being processed. SARS confirmed that everything went through on their side and that tax was deducted.

After waiting almost a month with no payment into my bank account, I called Old Mutual. I was then told the withdrawal was canceled due to “the markets.” I never received any notification that it had been canceled.

I asked Old Mutual to send me an email explaining why the withdrawal was canceled, but to date I have received nothing. Once a two‑pot withdrawal is locked in and SARS has already deducted tax, how can it simply be reversed? This lack of communication and accountability is unacceptable.