DD
Dalene D

1 reviews | Active since Aug 2020

10 Mar 2021, 08:11

Old Mutual Superfund is more like Super Failure

I resigned from a position in November 2020 and advised my Old Mutual Superfund that I will be placing my Provident funds into a different fund with higher returns. I also chose to use the right to do a draw down for PersonaL purposes, thankfully not basic living purposes, because I would have been in trouble. None the less, I’ve had to pay those personal expenses using a credit card which has costly interest rates simply because now, March 2021, I have still not receiver my draw down and my new fund account is still empty. My Financial Advisor and I have sent numerous emails and she calls them regularly. They make empty promises to pay and even provided dates and times of the payment with absolutely no action followed and no contact with an explanation. The fund employee has received and read the mails, but fails to reply. This service is appalling and makes me wonder if there are financial reasons on Old Mutual’s side that is causing my funds to be held without explanation. The interest that I could have earned on these funds are no small amount, yet when I ask whether Old mutual will cover that interest lost due to their failure to pay, I receive no response. Their service isn’t appalling, it is non existent.

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Replies (1)
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Dalene D's update10 Mar 2021, 10:19
Reviewer Update
I look forward to hearing from you