1 reviews | Active since Jun 2016

11 Oct 2023, 15:54

Wrong Info Given

My husband submitted his request for a payout for his Retirement Annuity 9 days ago. First he was told it would take 3 to 5 business days and then he was told 5 to 7 days by two different people. Today, being day 6 he phoned to find out when the payout would be done. Imagine his surprise and horror when he was told that it takes 15 to 21 business days to get a payout! He was also told that the form was incomplete and that he had to have his Id verified by the Police. Now, the forms were emailed to Siphenathi Makhubalo 9 days ago & he was NOT notified that the forms were incomplete, had he NOT phoned today he wouldnt have known. 1) Why was he given the wrong information regarding the payout period? This has put him in a financial predicament as he made commitments which he is UNABLE to honour now and 2) Why did Siphenathi Makhubalo NOT bother to notify him of the incomplete form? He SPECIFICALLY stated on his email to please let him know if anything else was needed but NOT a peep from Siphenathi or anyone else. This is NOT acceptable that wrong information was given as it has put us in a huge financial predicament and that Siphenathi did NOT follow up. Judging from all the bad reviews regarding payouts it would seem this is the norm with Old Mutual to drag out payouts for as long as possible. Old Mutual is just as bad as Government Departments where there is poor to non-existant service.

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Replies (2)
Old Mutual
Old Mutual's reply11 Oct 2023, 15:56
Official
Good day Karin

We have received your review and  we sincerely apologize for your service experience. A complaints assessor will investigate the matter and contact you directly should we require additional information. 

Regards 
Shannon Wentzel
Old Mutual Complaints Management

's update11 Oct 2023, 21:17
Reviewer Update
Thank you