TC
Tertius C

1 reviews | Active since Dec 2012

08 Jul 2015, 09:48

Still waiting for pension

I resigned my job in April and my request to release my pension was made by my employer on 15 April 2015. On 4 June I phoned Old Mutual to find out what the delay in pay out is and was told it would be paid within a week. June 12 I phoned again and was told within 10 working days it will be paid. On 23 June I phoned again and this time was told my pension is tied up in Old Mutual stock and they are waiting for it to be sold, it will be paid out before July. I planned my debit orders and payments accordingly and subsequently it bounced, so I ended up with more than R1000 in penalties from my bank as well as damage to my credit record as a direct result of Old Mutual, who will take responsibility for that? It is now the 8th of July and still nothing. Why should I suffer when I paid Old Mutual cash, it is not my problem what they do with the money I give them, but it is due to me. What if Old Mutual goes bankrupt tomorrow and nobody want their stock? Do I just lose all my pension then? Who is getting the interest on my money that has been lying there for almost 3 months? I need my pay out today. Tertius ***

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Replies (1)
Old Mutual
Old Mutual's reply08 Jul 2015, 10:05
Official
Hello tertiuscoetzer,

I am sorry to hear that your payment has not yet been finalised.

We will investigate and contact you directly to resolve.

Kind regards
Belinda Hunt