CK
Charl K

1 reviews | Active since Apr 2018

30 Apr 2018, 16:34

My life is falling apart due to miscommunication and legal issues that are not based on facts

Left Employer already 8 months ago. Was part of management team that chose the Evergreen Superfund. During January the employer did not elect to choose payout e-claim, so the Balance transferred to a Preserver Fund. I was unaware of this. Old Mutual been giving me information since last year that there is nothing they can do for me to access my money if the employer can't elect what to do with it. I hope they recorded all my phone calls. There was so many mixed messages. Money is on hold. Employer has a dispute. There is some legal proceeding happening. Since 10 January the money was in the Preserver Fund and nobody contacted me. Then a lawyer went to High Court during February 2018 for a claim on my money but that was part of the Employer Superfund, not the Preserver Fund. So now all o of a sudden the rules of the Preserver Fund (which was that I can do a once off 100% Cash Withdrawal before retirement, all of sudden has been flagged due to a law firm just calling them and making false claims). Point is, for at least a month since January nobody touched my funds and I was making calls to Old Mutual always with an excuse that the funds cannot be paid out. In the meantime I am loosing all my assets and building up so high debt and lawyer fees due to Old Mutual poor customer service. During January I called them and I begged them for answers and lady said nothing they can do. Then fast forward to April all of a sudden I get an email that I must just give tax number and bank details and they will pay it out. I thought finally a miracle, and started rebuilding my life and contacting my debtors. One week later Old Mutual silent in email and I cannot see progress on portal. I give phone call and the Call Center just says it has been flagged by legal due to a NOTE from February and the funds are now again on hold. I am close to end up completely on street due to Old Mutual miscommunications and poor transparency in what is lawfully my hard worked invested funds, now 9 months after leaving employer still hoping and praying daily for a miracle. Please someone step in ASAP. This is the worst time of my life. Thanks

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Replies (1)
Old Mutual
Old Mutual's reply02 May 2018, 08:42
Official

Dear Herman

Thank you for the review.

We apologise for the inconvenience caused. We will investigate and respond to you directly.

Regards

Brent Sellidon

Complaints Management