IH
Ian H

1 reviews | Active since Oct 2012

26 Nov 2015, 16:41

Proud of Sound pensioner administration experience

Just recently Old Mutual was caught misrepresenting facts to the Long Term Insurance Ombudsman even quoting from the Pension Act to show how they met FSB approval. The case revolved around them issuing a compulsory annuity to an elderly female pensioner apparently without her knowing or consenting. O M came up with a story as to how her Pension Fund purchased it under the GN 18 process. The long and short my evidence supp**** proved it incorrect. But the Ombudsman ruled against the estate three times. I pressurized the Ombudsman on certain matters. The result O M came back and withdrew its 1st story and replaced it with another. They knew when writing the 1st story it was a lie. In 2008/9 O M sent a copy of her policy to the pensioner. Much later the original was found. The copy was compared to the original. They were vastly different ( false). O M again supp**** another copy of that same policy to the Ombudsman. That copy proved to be an alteration of an alteration. O M does not want to pay out . Proud of 40 years \sound pensioner administration experience? The reason for the lies. To hide at all costs how her Fund and Old Mutual actually converted from pension to a policy. "

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Replies (1)
Old Mutual
Old Mutual's reply27 Nov 2015, 12:37
Official
Hello I G Han****,

I apologise for the way this matter was handled. The Ombudsman for Long-term Insurance explained why no further benefit is payable. You can still make an application for leave to appeal against the final determination.
Kind regards
Christian Cloete