SANLAM NOT TRUTHFUL WITH PAYMENT OF THE AMOUNT DUE ON MATURITY RETIREMENT ANNUITY

I’ve been a contributing member towards Sanlam Retirement Annuity since January 1995 my first premium was R95 at the time since I was younger and until last year my premiums went up to R1750 the annual increase was set at 10% pa. After numerous consultations, Sanlam informed me that my policy is only worth R247000.00 when I calculated it comes down to my payments only and no interest from Sanlam. They are ******* and lairs and I do not recommend any young person to take out any retirement product with this company. After years the projections was looking great, over a Million Rands (that is how they got me to take out the RA) now that it has reached its maturity, they refuse to pay what is due to me according to the projections. If I took the same amount and had paid it into a savings account the interest would have been less but still by far better than with no interest paid. Sanlam visits work places targeting new and young employees to take out this retirement annuity but I advise them otherwise from my experience. Those who listen, good for them but it’s too bad for the gullible onces