Retirement Payout

To whom it may concern,

I am writing to formally express my concern regarding the handling of my retirement fund payout following my retirement on 8 May 2026.

I submitted retirement applications to both Momentum and Old Mutual at the same time. Momentum processed and paid out my funds within four days. In contrast, my experience with Old Mutual has been marked by inconsistent communication and shifting timelines.

On 29 May 2026, I received an email from Old Mutual stating that the transfer of my funds had been completed and that the money would reflect in my account within 3–4 business days. Based on this communication, I reasonably expected the funds to reflect by the timeline provided.

However, on 1 June 2026, I was informed that the payout had in fact been sent for final pricing, and that this process would take an additional 4–5 business days. These two statements directly contradict each other. If the transfer was completed on 29 May, final pricing should not still be outstanding. If final pricing is only happening now, then the communication on 29 May was inaccurate and misleading.

This inconsistency has caused unnecessary frustration and uncer*****y at a time when I should be receiving clear and reliable information regarding my own retirement savings.

I request the following:

A clear explanation for the conflicting timelines provided.

Confirmation of the exact stage my payout is currently in.

A final, accurate date by which the funds will reflect in my account.

The name and contact details of the person responsible for handling my case.

I believe that transparent and consistent communication is the minimum standard clients should expect, especially when dealing with retirement funds. Unfortunately, based on my experience, I cannot in good conscience recommend Old Mutual to others unless these issues are addressed.

I look forward to your urgent clarification.

Kind regards, Jean Gryzenhout