Old Mutual lying to its customers

Item: Old Mutual
Rating: 1
Author: Magrieta C

I've always been very loyal to Old Mutual for the last 20 years. On 18 September 2024, I made a two-pot withdrawal as I desperately needed the funds. I phoned OM regularly to check-up on the progress of my request and have been promised that they are diligently working on it. Last week Monday 21 October 2024, I was assured that my request has been processed and will be going to SARS for assessment. I followed up again on 25 October and received the following response "Good day, we can confirm we've submitted all your relevant information to SARS and are no awaiting their response. We appreciate your patience as we work to finalize your withdrawal."

Today when I again phoned the Two-Pot Withdrawal Helpline I spoke to a young lady that advised that my request was still in processing and has not gone to SARS yet.

Tomorrow is 30 working days since submitting my request.

So Old Mutual, why do you keep lying to your customers??

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Replies (1)

Magrieta C's updateReviewer Update

01 Nov 2024, 15:20

I never got a call back from Old Mutual. According to OM call agent (I phoned them), there is an error with the straight-through processing of some withdrawal requests, this was also mentioned by the call agent that I spoke to on 21 October. Old Mutual have been aware of this error for two weeks at my estimate so what are they doing to resolve this??

Magrieta C's update01 Nov 2024, 15:20

Reviewer Update