AW
Athailje W

1 reviews | Active since Mar 2014

26 Nov 2024, 15:02

Worst experience ever!! Do not open a prov fund or retirement annuity at Old Mutual!

This is probably the worst experience andservice that I have ever received while trying withdraw my provident fund. I submitted my claim on the 6th of Novemer. On the 7th I received an email that I need to send bankstatement to confirm banking details. I sent it to them on the 8th. On the 9th I received a confirmation email to say my documents has been received and my claim has been activated and processes and sent to SARS. Out of the blue I received another email on the 11th that says they did not receive my claim and that my funds has been moved to the preserved fund. To this day no one at old mutual can tell me why my money was moved after they confirmed that it has been processed for full cash payout. I have been phoning everyday and speaking to different people everytime and no one can give answers. Each and every person that i talk to give me a different story. It's been almost 3 weeks and still no answer as to why my money has been moved. They also can't assist me in processing the claim again because now all of the sudden I'm unable to submit another claim. This is totally unacceptable. Just a warning to anyone trying to submit a claim soon or wanting to take out a retirement fund at Old Mutual. Don't do it!!! U will struggle to get your money!!!

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Replies (3)
Old Mutual
Old Mutual's reply26 Nov 2024, 17:12
Official
Hi Athailje 

We acknowledge receipt of your review and sincerely apologise for the delay you experienced with your withdrawal. We are committed to investigating this matter thoroughly and will make direct contact with you should further information be required.

Regards
Old Mutual Complaints Management
AW
Athailje W's update27 Nov 2024, 11:55
Reviewer Update
I'm still waiting on someone to call me....
Old Mutual
Old Mutual's reply27 Nov 2024, 12:26
Official
We are truly sorry for the lack of feedback. We have reached out to the relevant department and escalated your matter for urgent attention. One of our consultants will be in contact shortly.