kJ
kevin J

1 reviews | Active since Dec 2014

16 May 2022, 07:56

Old Mutual wealth

In early Feb2022 I read about the SARS tax changes to treatment of tax on annuities. On the 7/02/22 I emailed Old mutual wealth ,giving clear instructions to leave my tax "as is ". This was confirmed by them on the same day.( Abu-Bakr Kenny) Great service , so far. However, to my horror, I discovered that this confirmed instruction had been ignored by them, and a much larger tax amount was deducted !! I queried this on the 24/4/22 and referred them to my instructions and subsequent confirmation reply . I did receive a reply ( Nonkosi Mandlakhe) stating that the deduction was too late to be corrected and NO REFUND would be forth coming !! Even though I was way ahead of the game ... I responded "in no uncertain terms ", to which I have yet to receive any sort of response from anybody In Old Mutual Wealth !!! It is also surprising that a family member of mine had the same problem but received the option to get his excessive tax back straight away ..Same company - different staff !!!

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Replies (1)
Old Mutual
Old Mutual's reply16 May 2022, 07:59
Official
Dear Kevin 

We are sorry to hear about the service experience. We will investigate and contact you directly to assist.

Regards
Thabiet Mintin
Old Mutual Complaints Management