JS
Jabulile S

1 reviews | Active since Sept 2018

11 Dec 2019, 09:45

Retirement annuity

I had a retirement annuity with Old Mutual which was more than 15 years, but when it was the payout time I received peanuts, not what was shown on the statement. When I queried, they referred me to SARS, which was surprising to me, I never invested my money with SARS but with them! They couldn't even give me a breakdown of how they arrived to that figure. It wasn't the first time Old Mutual had let me down, I had a burial policy which was more than ten years, when my nephew passed away, they told me I qualify for R5000 instead of R10 000 when I asked they told me I had decreased the cover hence I was still paying the same premium. I contacted head office to no vain!. I've lost trust that I always had for Old Mutual, I wouldn't advice anyone to invest in them!

Kind regards Jabulile Shange

0
Replies (1)
Old Mutual
Old Mutual's reply11 Dec 2019, 10:09
Official
Dear Jabulile,

i acknowledge receipt of your complaint, this matter will be investigated and I will be in contact with you.

Regards
Kareemah
Complaints Management