Unacceptable Delay in Super Fund Payout

(ON BEHALF OF MY MOTHER)

I am writing to formally lodge a complaint against Old Mutual regarding the unacceptable delay in processing my Super Fund payout.

It has now been three months since I initiated this process, and to date, I have received no meaningful assistance or resolution.

I have repeatedly been told that South African Revenue Service rejected my letter of registration. However, no consultant has been able to explain why it was rejected. Instead, I am given vague and unacceptable responses such as:

“I don’t know” “Please phone back later”

On multiple occasions, I have also been told that a senior consultant would contact me with feedback, yet no one has ever returned my calls.

In an effort to resolve the issue myself, I personally visited SARS, corrected my documentation, and ensured that everything was in order. Despite this, Old Mutual has still failed to assist me or progress my claim.

I have also visited the Cape Gate branch in person, where I was met with the same lack of assistance—staff were unable to provide answers or take ownership of the matter.

For comparison, when I previously held a similar fund with Sanlam, my payout was processed within one week. The current experience with Old Mutual is completely unacceptable and deeply frustrating.

Furthermore, due to this unreasonable delay, I have lost out on interest on my funds over the past three months. I fully intend to claim this lost interest as part of the resolution.

This level of service is pathetic and unacceptable for a company of your standing. I require:

Immediate escalation of my case A clear explanation of the delays Urgent processing of my payout Compensation for lost interest due to your delays

HE NORDEN