You will regret transferring your pension fund to old Mutual. DONT EVER CONSIDER THEM. AVOID AT ALL COST.

You will regret transferring your pension fund to old Mutual. DONT EVER CONSIDER THEM. AVOID AT ALL COST.

My ordeal began in in August 2017 when I decided to transfer my Pension fund to Old Mutual on the advice from a new Employer.

Due to Old Mutual's lack of luster and poor client service my pension fund transfer was taxed by SARS because Old Mutual took to long to provide the necessary documentation to Alexander Forbes.

Now exactly three years later I am one of those unfortunate South Africans that have been retrenched due to the whole Covid-19 issue. I urgently need my pension funds to allow myself to pay bills and survive.

The fact that my Pension fund was taxed on transfer, has now caused a whole new issue on exiting the fund.

On top of everything Old Mutual has found every reason under the sun to delay my pay-out. From plain avoidance to blaming my previous employer and SARS for not doing their job or part. They eventually gave me an option of getting taxed again or to wait for them to complete a manual tax directive process with SARS.

It is now 3 months later and a second manual tax directive submission. Many discussion and emails with SARS and Old Mutual - but still nothing. SARS has informed me that Old Mutual is the cause of the massive delay - I am now believing them.

I have escalated the issue and service complaint all the way through to the Arbitration Department within Old Mutual - but even that is a dead end street with no response, commitments or assistance. Even the Customer complaints department is not able to get results or feedback from their own staff.

I notified them that I will be making the public aware of their pathetic service - I doubt they care that I am sitting on the verge of financial ruin because of their incompetency - on two occasions.

Regards Mark Emmerich.