Failure to Process Section 14 / Formal Request for De Minimis Cancellation & Refund

Dear Old Mutual Complaints Management Team,

I am writing this email to express my absolute disgust and frustration with the shocking lack of service I have received from Old Mutual.

I first formally requested my Section 14 transfer documentation on Tuesday, April 14, 2026. Your automated response system claims a processing standard of 10 working days for fund values and transfer requirements. Yet, it has now been nearly two full months since my initial request with absolutely zero progress, zero helpful feedback, and complete disregard for my portfolio.

I finally fully understand why Old Mutual is plagued with terrible media reports regarding your products and customer service. Dealing with your institution has been an administrative nightmare.

Because of your failure to execute a simple Section 14 request since April, I am officially canceling the Section 14 transfer process. I want absolutely nothing more to do with Old Mutual.

Demand for Full Cancellation and Cash Payout (De Minimis Rule) My current fund value under my policy is less than R15,000. As per South African legislative regulations and Old Mutual’s own fund rules regarding Retirement Annuities, a member is legally allowed to fully terminate the policy and withdraw the entire capital balance in cash if the total fund value is below the R15,000 de minimis threshold.

Therefore, I demand the following:

Immediate cancellation of Contract.

The immediate processing of a full cash payout / commutation of my funds directly into my bank account based on the under-R15,000 legislative rule.

The immediate provision of the necessary discharge forms to sign so this payout can be expedited.

Do not send me another generic auto-response telling me the matter has been referred to "***". That office has failed me since April. I expect a senior manager from your complaints division to contact me immediately with the cancellation paperwork.

Unhappy and disgusted client,