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Sarel C
1 reviews | Active since May 2010
16 Mar 2022, 18:17
Don't purchase a retirement annuity from Old Mutual - you may lose your money!
Be very careful to purchase an retirement annuity from Old Mutual. You may lose your money. On 5 Sep 2021 I requested retirement from one of my Retirement Annuities at Old Mutual. The terms of the policy determined that the 15% cash payment will be paid in foreign currency. More than six months has past and Old Mutual has still not made the 15% payment to me. It appears that they just don't have the know how to process this payment. I have opened a case at the Pension Fund adjudicator against Old Mutual and I have even written to their CEO Mr Ian Williamson. But my broker and I don't even get responses from them. Looks like I am going to lose 15% of my retirement annuity. Be aware!
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