Sanlam forces you to commit to monthly saving premiums - even if unafforable - or face expensive penalties / fees.

Times are hard - as I am self employed I have had to take a significant reduction in income. I was able to take payment holiday for my retirement annuity. But now that I am still in a significantly reduced financial position they basically force you to re-commit to existing debit orders - unless you pay a very heavy penalty to either close (pay-up they call it) or re-adjust premium.

To me this seems ******* and I don't understand how they can try and put even more burden and hardship on individuals

I don't know what todo as of yet. I find this behavior repulsing, it was my choice to try and save for my retirement. I should be able to adjust according to my means the amount I have available on a monthly basis.

Avoid this company at all costs - in my opinion they are just a corporate run by greedy people who have absolutely no sympathy for people struggling and enduring continuous hardship.