Old Mutual is a Negligent Business that doesn’t deserve your support.

I took out an RA with Old Mutual in January. Due to financial constraints I had to request a reduction in my contribution. I made the request on 22 August. I have a paper trail spanning 2 months trying to get feedback on this request. I am now facing a third month making a contribution I cannot afford with virtually zero accountability from Old Mutual.

When you choose an institution to manage your RA you are choosing a partner for life. Less than 10 months in my partner has let me down.

I will be accepting the penalties, but I will be transferring my RA to an accountable institution.

Avoid Old Mutual like the plague. They will bankrupt you and they won’t even respond to your emails or calls if you ask them why.