1 reviews | Active since Nov 2021
Old mutual are ******s they withhold important information!!
I got retrenched in September of 2021. I have a superfund account with them. When I got the call from them about withdrawing the money after getting retrenched I did not want to take the money immediately. The lady advised me that I can move it to a preserver fund and I wouldn’t have to contribute anything for the time being, and once im ready I can withdraw the money. I was so happy that I had that option. So now that I need the money I am told only now that it will be taxed!!! When we got retrenched the company app**** for a tax directive which would allow us to take the money TAX FREE. The lady I spoke to NEVER INFORMED ME that if I move the money to the preserver fund it will be subject to 18% TAX !! Upon withdrawal.18%!! If I had known then I would have taken the money at that time. Old mutual are ****** for not sharing such important information with me and now that I need the money im gonna have to sacrifice so much of it!! Im really disappointed.This is disgusting and ridiculous. They do not care about peoples livelihoods keeping such important information from us. Guys be careful these people are ******! Go somewhere else
