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Puseletso M

1 reviews | Active since Sept 2017

24 Mar 2020, 10:35

Old Mutual doesn't want to release my mother's investment funds after it matured.

I write this with a very heavy heart. My mother had an investment with old mutual which matured on 1 February 2020,on the day it matured we went to OM vereeniging branch to fill out whatevet necessary forms to release her funds. We were taken from pillar to post, had to obtain cession releases from Nedbank which took up to a month, that was finally done in the beginning of March and OM was informed. We now received a letter from OM saying that my mother's funds have been transferred into a money market fund without her knowledge and acknowledgement. My mother r wants her money, she doesn't want stories about funds. I get the feeling OM does not want to release her money hence all these delaying tactics. Can someone please assist as this has gone in for too long and causing my mother distress!!

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Replies (2)
Old Mutual
Old Mutual's reply24 Mar 2020, 13:25
Official
Dear Puseletso
I acknowledge receipt of your complaint, this matter will be investigated and I will be in contact with you.

Regards
Coleen Aanhuizen
Old Mutual Complaints Management


PM
Puseletso M's update27 Mar 2020, 09:30
Reviewer Update
Good morning Coleen. Please note that I am still awaiting your response. Thanks