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Prashant B

1 reviews | Active since Oct 2014

20 Dec 2015, 13:21

Old Mutual Never Pays Out

My father has had an Old Mutual Retirement Annuity for the past couple of years. Since the 15th of September he knew that his retirement policy had been maturing. After renovating our home, he re**** on the money coming in to pay for the renovations. He had notified Old Mutual that he would like to withdraw the amount and has needed it to pay for the renovations and they have been passing the buck for 2 months now which I feel is absolutely pathetic. They have been completely inconsiderate and they should not be trusted. I am laying this complaint on the 20th of December- 2 months later (after 2 months of them making him run around to get his own money - after calling many times and James had taken the forms in, the processing department has still not given him his money. I simply do not trust Old Mutual. The ROI he has apparently received after years of investing with them is also minimal. Since requesting the funds, and them giving him the run around I implore people not to trust Old Mutual. They really are just a waste of time, and when you do decide to withdraw your money- they seem to make it extremely difficult for you to get it back. The money is overdue by 2 months now

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Replies (1)
Old Mutual
Old Mutual's reply20 Dec 2015, 16:20
Official
Hello PrashantB1,

Thank you for bringing this to our attention. We will investigate and contact you directly to resolve.

Kind regards
Christian Cloete