DH
Duane H

1 reviews | Active since May 2021

09 Sept 2026, 10:01

Mis"management" of trust fund money

My husband passed away in 2024. His pension was divided and the childrens' fund were placed into a trust from which they receive monthly benefits.

I would just like you to explain the management cost linked to my kids' fund. I would like to know why it is so exorbitant? I feel that it is ridiculous for you guys to charge that much from a fund needed to maintain and support my children. Why is there no set rate for management fees? You people are depleting their funds faster than they are and that to me that is plain daylight *******. Their funds are not even getting a chance to grow because the interest that it accumulates gets taken by the bank, even more than the interest accrued. Then the money could just have been invested and they could live off the interest.

By the time my eldest reaches matric, which is 3 years, her funds will be depleted. Not because of mismanagement of funds, but by the bank *****ing from their funds and calling it "management fees."

No amount of management or administration cost is worth that much. A home loan does not even charge that much in fees monthly.

0
Replies (1)
Standard Bank
Standard Bank's reply09 Sept 2026, 10:07
Official
Dear Duane 

Thank you for bringing this issue to our attention. 

As Standard Bank, we are committed to providing you with the best possible service and will ensure that this issue is taken care of. 

We sincerely apologize for any inconvenience or unwarranted frustration this has given you. 

Kindest regards
Standard Bank Hello Peter Team 
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