AM
Andiswa M

1 reviews | Active since Mar 2020

03 Apr 2020, 01:41

Retirement Fund Value Drastic Drop and no headsup whatsover

I am soooo utterly disgusted and dissatisfied with the service from my retirement holder which is Sanlam.At first i was told no one knew where my balance was for the retirement and later i was given a balnce which was 20k short from the previous balance..no one was able to give me an explanation as to where the money has gone to.A few days later i complain on this platform and told me they would investigate and suprise suprise now its 37k short

"Fund Value

Regrettably, due to negative returns on your investment portfolio, your final benefit decreased since the previous statement was issued to you. If you require more information about the negative returns on your investment portfolio, you can contact the Fund directly####"

After my complaint was lodged only one attempt was made to contact me around 8am and when i did not pick up that was that.I needed someone to explain my fund loss and advise so i can make a decision that will not affect my investment or seek advice ..no one bothered to do that and now they are telling me a payment of less +_40 has been made.Who does that? If i had forced the matters to say withdraw even if that is the case i would be at peace..no one even communicated when they discovered that the amount was this low.

I know Sanlam will be quick to come and close this complaint in the morning as if its resolved.

0
Replies (2)
Sanlam
Sanlam's reply03 Apr 2020, 07:08
Official
Dear Andiswa

We acknowledge receipt of your complaint and will refer it for investigation. 

Kind regards 
Sanlam Client Relations 
Sanlam
Sanlam's reply03 Apr 2020, 14:53
Official
Dear Andiswa

We have received feedback that one of our consultants has been in touch with you. We understand your frustration regarding your fund value which decreased, and we have referred it to the Fund to provide you with feedback.

Regards,
Client Relations