OLD MUTUAL LACK OF SERVICE AND COMMUNICATION

I had my RA with Old Mutual for over 20 years, where the Broker earned commission and I never heard from him again. So in the years I never heard of Old Mutual, except when there was an increase or I had to request my tax certificate for SARS, but I trusted them that my RA will grow and by the time it reach the stage where it will be paid up, Old Mutual will contact me and give all the options to continue contributing to the RA until I reach retirement age.

To my surprise when I started to investigate about a month ago, I was told by the call centre agent, that my policy is so old, she doesn't even know how to assist me. She will have to get a advisor to assist me.

So the advisor phone me and upon looking into my RA, I was told that I can't keep on contributing as this policy was paid up. She also advise that I have been contributing to the RA after it has been paid up and those funds can't be allocated to the RA. Not once did I receive any communication from Old Mutual regarding this? Currently the funds are in a suspense account and they will have to refund me. Needless to say, I'm still waiting for my refund. Everytime I follow up there is an excuse .... Nowthe delay is because it was EID.

She also advise me that she can't tell me what is the value of my RA until the money has been refunded.

OLD MUTUAL, please can you advise why I was never updated about my RA - given options, advise about the money I have been paying and being notify about that. I have missed out on the opportunity to keep on investing and ensure that I have a better sum of money available when I retire.

You are quick to take my money, but not so quick to provide updates and refunds.

So I would really like to understand what is the value of my RA? Because with this bad service I have received from you, I would rather pull my RA from you and invest it with another Financial Service Institution?