NT
Neal T

1 reviews | Active since Jan 2014

21 Apr 2020, 11:25

Not willing to assist

I am an unemployed teacher. I have an annuity policy with OM which matured 2018/2019. I get a measly R396.56 p m. I went to the offices previously to enquire if I could move the funds where I could get more cash out or increase my payout and I was told I can't and have to wait until November 2020. I do not have an income.Apparently that product is discontinued for year because of the low payout and I was never advised by anybody prior to the maturity of the policy to change it. How can I survive on that amount p m. Nobody is willing to assist, I have a family to support!

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Replies (1)
NT
Neal T's update21 Apr 2020, 14:15
Reviewer Update
Dear Brent

The statement I received from OM states the following:

Your anniversary is on 01 November. You can choose to change your annual income percentage before this date.
Your annual income percentage is currently 2.50%.

Please clarify as it clearly states I can choose to changed the percentage before 1 November.