Extremely Disappointed with Old Mutual’s Retirement Fund Transfer Process

In mid-March 2025, I submitted a Request of Transfer (ROT) to move my retirement fund from Old Mutual to Discovery. Discovery officially accepted the ROT on 12 June 2025. Since then, however, Old Mutual has failed to complete the transfer.

Despite repeated follow-ups over the past two weeks, I have received no meaningful communication or updates from Old Mutual. Discovery has also reached out multiple times requesting the Fund Transfer Confirmation, Proof of Payment, Tax Directive, and Benefit Split — all of which are standard requirements — but have received no response from Old Mutual.

This experience has been incredibly frustrating and disappointing. The lack of urgency and transparency displayed by Old Mutual is unacceptable, especially when dealing with something as important as retirement savings. Based on this experience, I would strongly advise others to think twice before choosing Old Mutual for retirement or any other financial services.