GM
Goodwill M
1 reviews | Active since Oct 2024
04 Oct 2024, 10:16
Sanlam Reaping Me off my Dads Dividends on shares
Hi, my name is Lerato Motaung. I am writing a review about how Sanlam is reaping my family off of a financial benefit in the name that we have forfeited dividends on my late father’s shares.
It was recently brought to our attention that my late Father has shares with Sanlam(Compushare) and that we need to look into the matter. My mother than went to their offices in Sandton and it was confirmed that we he did have shares with them and that they been profitable and accumulating monthly dividends since 2002 on average of R900-R1200 monthly. She was then instructed to send an email to another official who’s job is to process dividend claims for beneficiaries of the deceased, this individual then sent my mother an email saying that we had forfeited the shares and that they can only pay the current price that the value of the shares.
I then wrote back to the person to find out why we’d forfeit the shares when we not even informed about them by Sanlam in the first place, He then proceeded to sent us an indemnity form and misleading us giving the idea that the accumulated share dividends would be paid out in full. However, a sum of about R1600 was paid into her account. We have since written back to them to understand why this money was sent.
We are being reaped off and want to justice to be served. Please help us and make our story known
Helpful (0)
Replies (6)0
Replies (6)
Sanlam's replyOfficial
04 Oct 2024, 10:28Good day Goodwill
We are sorry to learn of your experience and would like to assist.
We will be sending you a Private reply.
Regards
Sanlam Client Care
We are sorry to learn of your experience and would like to assist.
We will be sending you a Private reply.
Regards
Sanlam Client Care
Sanlam's reply04 Oct 2024, 10:28
Official
Good day Goodwill
We are sorry to learn of your experience and would like to assist.
We will be sending you a Private reply.
Regards
Sanlam Client Care
We are sorry to learn of your experience and would like to assist.
We will be sending you a Private reply.
Regards
Sanlam Client Care
GM
Goodwill M's updateReviewer Update
04 Oct 2024, 11:29Thank You for your response, I am looking forward to hearing from you.
GM
Goodwill M's update04 Oct 2024, 11:29
Reviewer Update
Thank You for your response, I am looking forward to hearing from you.
Sanlam's replyOfficial
10 Oct 2024, 10:50Good day Goodwill
We apologise for the delay in responding. This is to confirm that Computershare has provided you with feedback.
Regards
Sanlam Client Care
We apologise for the delay in responding. This is to confirm that Computershare has provided you with feedback.
Regards
Sanlam Client Care
Sanlam's reply10 Oct 2024, 10:50
Official
Good day Goodwill
We apologise for the delay in responding. This is to confirm that Computershare has provided you with feedback.
Regards
Sanlam Client Care
We apologise for the delay in responding. This is to confirm that Computershare has provided you with feedback.
Regards
Sanlam Client Care
GM
Goodwill M's updateReviewer Update
10 Oct 2024, 19:26Hi, Thank You to Hellopeter for their support during this process.
Just to provide everyone who can read this public review of Sanlam and Computershare. As it reads above in Sanlam’ correspondence to me “ This is to confirm that Computershare has provided you with feedback”.
I received a call this morning from someone who was a representative of Sanlam/ Computershare. The reply from them was no different from what they had already told us before we started this process with Hellopeter. I have again been told that we have forfeited the shares and the dividends because Sanlam couldn’t find my Father for up to 12 years. Another thing communicated to me is that prior to my Family’s claim for my late father’s shares and accumulated dividends,Sanlam didn't have any knowledge of father’s passing.
To this I responded with a question regarding the means that were employed by Sanlam to communicate with my Father or even his beneficiaries and it was communicated to me that they made newspaper reports, radio& Television broadcasts in order to communicate with all their shareholders. All these means were employed except for the one that works mostly which was to send a letter to the person through the South African Postal Service. It is said by them that they sent letters which they also fail to provide proof for this fact.
The issue of concern here is how do we loose money that has already been accumulated as dividends on shares that were given as part of a policy or bought by my father. The lack of effort on their side to communicate to us tells me that this was a deliberate action to rob me and many others of dividends that were to be paid out to our late loved ones.
Secondly, I have found out that I am one of many people whom Sanlam and Computershare are robbing of the dividends to these shares.
I would like to urge everyone who is using Sanlam’s services to know whom they have gotten in bed with and that their hard earned money is at risk of being ****** from their beneficiaries if God forbid they loose their lives. I am searching tirelessly through my father’s documents to find the original documents and his contract with them. Upon finding all the relevant documents I will bring Sanlam to task and will surely write to relevant media house such as “Carte Blanche, the likes of Podcast and Chill network”, share my story on social media platforms of the likes of “X”.
It is high time that such organisations stop *****ing from us who have no one to fight for us. I and all those who this injustice is being done to will get what is rightfully ours by all costs.
Just to provide everyone who can read this public review of Sanlam and Computershare. As it reads above in Sanlam’ correspondence to me “ This is to confirm that Computershare has provided you with feedback”.
I received a call this morning from someone who was a representative of Sanlam/ Computershare. The reply from them was no different from what they had already told us before we started this process with Hellopeter. I have again been told that we have forfeited the shares and the dividends because Sanlam couldn’t find my Father for up to 12 years. Another thing communicated to me is that prior to my Family’s claim for my late father’s shares and accumulated dividends,Sanlam didn't have any knowledge of father’s passing.
To this I responded with a question regarding the means that were employed by Sanlam to communicate with my Father or even his beneficiaries and it was communicated to me that they made newspaper reports, radio& Television broadcasts in order to communicate with all their shareholders. All these means were employed except for the one that works mostly which was to send a letter to the person through the South African Postal Service. It is said by them that they sent letters which they also fail to provide proof for this fact.
The issue of concern here is how do we loose money that has already been accumulated as dividends on shares that were given as part of a policy or bought by my father. The lack of effort on their side to communicate to us tells me that this was a deliberate action to rob me and many others of dividends that were to be paid out to our late loved ones.
Secondly, I have found out that I am one of many people whom Sanlam and Computershare are robbing of the dividends to these shares.
I would like to urge everyone who is using Sanlam’s services to know whom they have gotten in bed with and that their hard earned money is at risk of being ****** from their beneficiaries if God forbid they loose their lives. I am searching tirelessly through my father’s documents to find the original documents and his contract with them. Upon finding all the relevant documents I will bring Sanlam to task and will surely write to relevant media house such as “Carte Blanche, the likes of Podcast and Chill network”, share my story on social media platforms of the likes of “X”.
It is high time that such organisations stop *****ing from us who have no one to fight for us. I and all those who this injustice is being done to will get what is rightfully ours by all costs.
GM
Goodwill M's update10 Oct 2024, 19:26
Reviewer Update
Hi, Thank You to Hellopeter for their support during this process.
Just to provide everyone who can read this public review of Sanlam and Computershare. As it reads above in Sanlam’ correspondence to me “ This is to confirm that Computershare has provided you with feedback”.
I received a call this morning from someone who was a representative of Sanlam/ Computershare. The reply from them was no different from what they had already told us before we started this process with Hellopeter. I have again been told that we have forfeited the shares and the dividends because Sanlam couldn’t find my Father for up to 12 years. Another thing communicated to me is that prior to my Family’s claim for my late father’s shares and accumulated dividends,Sanlam didn't have any knowledge of father’s passing.
To this I responded with a question regarding the means that were employed by Sanlam to communicate with my Father or even his beneficiaries and it was communicated to me that they made newspaper reports, radio& Television broadcasts in order to communicate with all their shareholders. All these means were employed except for the one that works mostly which was to send a letter to the person through the South African Postal Service. It is said by them that they sent letters which they also fail to provide proof for this fact.
The issue of concern here is how do we loose money that has already been accumulated as dividends on shares that were given as part of a policy or bought by my father. The lack of effort on their side to communicate to us tells me that this was a deliberate action to rob me and many others of dividends that were to be paid out to our late loved ones.
Secondly, I have found out that I am one of many people whom Sanlam and Computershare are robbing of the dividends to these shares.
I would like to urge everyone who is using Sanlam’s services to know whom they have gotten in bed with and that their hard earned money is at risk of being ****** from their beneficiaries if God forbid they loose their lives. I am searching tirelessly through my father’s documents to find the original documents and his contract with them. Upon finding all the relevant documents I will bring Sanlam to task and will surely write to relevant media house such as “Carte Blanche, the likes of Podcast and Chill network”, share my story on social media platforms of the likes of “X”.
It is high time that such organisations stop *****ing from us who have no one to fight for us. I and all those who this injustice is being done to will get what is rightfully ours by all costs.
Just to provide everyone who can read this public review of Sanlam and Computershare. As it reads above in Sanlam’ correspondence to me “ This is to confirm that Computershare has provided you with feedback”.
I received a call this morning from someone who was a representative of Sanlam/ Computershare. The reply from them was no different from what they had already told us before we started this process with Hellopeter. I have again been told that we have forfeited the shares and the dividends because Sanlam couldn’t find my Father for up to 12 years. Another thing communicated to me is that prior to my Family’s claim for my late father’s shares and accumulated dividends,Sanlam didn't have any knowledge of father’s passing.
To this I responded with a question regarding the means that were employed by Sanlam to communicate with my Father or even his beneficiaries and it was communicated to me that they made newspaper reports, radio& Television broadcasts in order to communicate with all their shareholders. All these means were employed except for the one that works mostly which was to send a letter to the person through the South African Postal Service. It is said by them that they sent letters which they also fail to provide proof for this fact.
The issue of concern here is how do we loose money that has already been accumulated as dividends on shares that were given as part of a policy or bought by my father. The lack of effort on their side to communicate to us tells me that this was a deliberate action to rob me and many others of dividends that were to be paid out to our late loved ones.
Secondly, I have found out that I am one of many people whom Sanlam and Computershare are robbing of the dividends to these shares.
I would like to urge everyone who is using Sanlam’s services to know whom they have gotten in bed with and that their hard earned money is at risk of being ****** from their beneficiaries if God forbid they loose their lives. I am searching tirelessly through my father’s documents to find the original documents and his contract with them. Upon finding all the relevant documents I will bring Sanlam to task and will surely write to relevant media house such as “Carte Blanche, the likes of Podcast and Chill network”, share my story on social media platforms of the likes of “X”.
It is high time that such organisations stop *****ing from us who have no one to fight for us. I and all those who this injustice is being done to will get what is rightfully ours by all costs.
GM
Walter PageComputershare
Account MaintenanceM ***
Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, South Africa
Private Bag X9000, Saxonwold, 2132, South Africa
www.computershare.com"
Goodwill M's updateReviewer Update
22 Oct 2024, 03:38Hi
I am here to just inform you of the current state of affairs concerning my late father’s share dividends being withheld from us as his beneficiaries by Sanlam. I received correspondence from Sanlam on the 16th October 2024 which read as follows.
"
Good day Mr Motaung We refer to your further HelloPeter complaint and would like to provide you with an explanation and background. In the case of Sanlam Ltd demutualisation shares, shareholder information was downloaded onto our system from the records provided by Sanlam Ltd at the time of listing. Shares were issued by Sanlam Ltd at a price of R5.40 per share at the date of listing on 31 October 1998. These shares were issued free of charge to policyholders. Sanlam Ltd made a business decision to repatriate shares that were not claimed, if accounts were dormant the shares and dividends were forfeited. Extensive efforts were made to trace shareholders and to communicate with them via various media platforms. Please see attached a copy of an adverti*****t placed. There have been challenges with the postal services, especially during Covid-19 where the post office was closed for extended periods and more recently due to the post office being in business rescue. There is an obligation on the shareholder to keep their contact details up to date and we were not advised of the deceased estate. The share register is maintained separately to the policy records. Please be advise that your claim is currently at Sanlam. We will provide feedback as soon as the claim has been finalised. Kind regards I am here to just inform you of the current state of affairs concerning my late father’s share dividends being withheld from us as his beneficiaries by Sanlam. I received correspondence from Sanlam on the 16th October 2024 which read as follows.
"
Walter PageComputershare
Account MaintenanceM ***
Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, South Africa
Private Bag X9000, Saxonwold, 2132, South Africa
www.computershare.com"
GM
Goodwill M's update22 Oct 2024, 03:38
Reviewer Update
Hi
I am here to just inform you of the current state of affairs concerning my late father’s share dividends being withheld from us as his beneficiaries by Sanlam. I received correspondence from Sanlam on the 16th October 2024 which read as follows.
"
Good day Mr Motaung We refer to your further HelloPeter complaint and would like to provide you with an explanation and background. In the case of Sanlam Ltd demutualisation shares, shareholder information was downloaded onto our system from the records provided by Sanlam Ltd at the time of listing. Shares were issued by Sanlam Ltd at a price of R5.40 per share at the date of listing on 31 October 1998. These shares were issued free of charge to policyholders. Sanlam Ltd made a business decision to repatriate shares that were not claimed, if accounts were dormant the shares and dividends were forfeited. Extensive efforts were made to trace shareholders and to communicate with them via various media platforms. Please see attached a copy of an adverti*****t placed. There have been challenges with the postal services, especially during Covid-19 where the post office was closed for extended periods and more recently due to the post office being in business rescue. There is an obligation on the shareholder to keep their contact details up to date and we were not advised of the deceased estate. The share register is maintained separately to the policy records. Please be advise that your claim is currently at Sanlam. We will provide feedback as soon as the claim has been finalised. Kind regards I am here to just inform you of the current state of affairs concerning my late father’s share dividends being withheld from us as his beneficiaries by Sanlam. I received correspondence from Sanlam on the 16th October 2024 which read as follows.
"
Walter PageComputershare
Account MaintenanceM ***
Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, South Africa
Private Bag X9000, Saxonwold, 2132, South Africa
www.computershare.com"
GM
Goodwill M's updateReviewer Update
22 Oct 2024, 03:42I have since written back to them on the following note
" Good Morning Walter Page
" Good Morning Walter Page
I would like to first thank you for your email correspondence concerning my late Father’s shares. From this same correspondence I have made the following observations:
1. That the Sanlam shares were issued to my Father on 31 October 1998 as a gift that came with him being a policy holder with your company. This marks 31 October 2024 to be 26 years without a single dividend being payout to him or his beneficiaries.
2. That the decision to take the shares back was a business decision made by Sanlam Ltd to the benefit of Sanlam Ltd and not that of its former policy holders or their beneficiaries.
3. My last observation from your email is that Sanlam Ltd was fully aware of my Father’s passing and just did not consult your own records when trying to communicate with the families of your late clients. This is actually a different information given than the information provided by a colleague of yours who called me on the 10th October 2024 under the number “ +27 (11) ***”. The information provided by him was that you were not aware that my dad had passed and believed that he changed his number and didn’t care about the shares, even though on your files the policy had been closed due to the death of the policy holder.
Making these observations I am led to believe that the decision made was not one taken in a judicial process and that this is still an injustice to both my late father and my family as his beneficiaries, who more than deserve to enjoy the fruits of his labours as he deemed it.
Sanlam/Computershare’s decision is one made on the basis of :
- A Failed Mailing System
-Employing ineffective means to communicate with your clients/Their beneficiaries
- A huge lack of due diligence on your side in finding out if your own system has the details of the beneficiaries of the deceased at the time that you were trying to contact your clients.
- Lastly I believe this is a product of human error on both yours and our sides and thus its an injustice for only one party to loose from this error, this party being the family of the deceased.
Therefore I cannot allow you to make us victims of a flawed process such as the one you have employed in making your decision.
In addition I believe this decision is not supported by your contractual agreement / Terms of agreement with my Father and would request that you please provide us with copies of your original:
- Shareholding Agreement
-& Policy Documents
Signed and issued to the deceased.
Your assistance is highly appreciated and I will await your response
Kind Regards
Goodwill L MotaungSent from my iPhone"
I would for every witness in this process to be fully informed of the process so that you too are protected in future for any injustice made to you by Sanlam/Computer or any company. To the families who are in the same boat as I am, your claim like mine is valid and we will get justice.
I would for every witness in this process to be fully informed of the process so that you too are protected in future for any injustice made to you by Sanlam/Computer or any company. To the families who are in the same boat as I am, your claim like mine is valid and we will get justice.
GM
Goodwill M's update22 Oct 2024, 03:42
Reviewer Update
I have since written back to them on the following note
" Good Morning Walter Page
" Good Morning Walter Page
I would like to first thank you for your email correspondence concerning my late Father’s shares. From this same correspondence I have made the following observations:
1. That the Sanlam shares were issued to my Father on 31 October 1998 as a gift that came with him being a policy holder with your company. This marks 31 October 2024 to be 26 years without a single dividend being payout to him or his beneficiaries.
2. That the decision to take the shares back was a business decision made by Sanlam Ltd to the benefit of Sanlam Ltd and not that of its former policy holders or their beneficiaries.
3. My last observation from your email is that Sanlam Ltd was fully aware of my Father’s passing and just did not consult your own records when trying to communicate with the families of your late clients. This is actually a different information given than the information provided by a colleague of yours who called me on the 10th October 2024 under the number “ +27 (11) ***”. The information provided by him was that you were not aware that my dad had passed and believed that he changed his number and didn’t care about the shares, even though on your files the policy had been closed due to the death of the policy holder.
Making these observations I am led to believe that the decision made was not one taken in a judicial process and that this is still an injustice to both my late father and my family as his beneficiaries, who more than deserve to enjoy the fruits of his labours as he deemed it.
Sanlam/Computershare’s decision is one made on the basis of :
- A Failed Mailing System
-Employing ineffective means to communicate with your clients/Their beneficiaries
- A huge lack of due diligence on your side in finding out if your own system has the details of the beneficiaries of the deceased at the time that you were trying to contact your clients.
- Lastly I believe this is a product of human error on both yours and our sides and thus its an injustice for only one party to loose from this error, this party being the family of the deceased.
Therefore I cannot allow you to make us victims of a flawed process such as the one you have employed in making your decision.
In addition I believe this decision is not supported by your contractual agreement / Terms of agreement with my Father and would request that you please provide us with copies of your original:
- Shareholding Agreement
-& Policy Documents
Signed and issued to the deceased.
Your assistance is highly appreciated and I will await your response
Kind Regards
Goodwill L MotaungSent from my iPhone"
I would for every witness in this process to be fully informed of the process so that you too are protected in future for any injustice made to you by Sanlam/Computer or any company. To the families who are in the same boat as I am, your claim like mine is valid and we will get justice.
I would for every witness in this process to be fully informed of the process so that you too are protected in future for any injustice made to you by Sanlam/Computer or any company. To the families who are in the same boat as I am, your claim like mine is valid and we will get justice.