1 reviews | Active since Jun 2010
I approached Stanlib almost a year ago to pay out an RA - early withdrawal based on Disability. They asked for this, then that, end finally, for the declaration of permanent disability and settlement letter from Discovery Life, which I sent to them. For months they only communicated with myself and after I sent the final documents, heard nothing, do once again I phoned and the call centre said it is "with the trustees". Today I received an email from my broker with an email from Stanlib that they only sent to him, and asked him if another company thatI have an RA with, has paid out my policy because, if do, they will aldo pay out my claim!!! That is against the POPI Act and a complete invasion of privacy! They have all supporting documents of my permanent disability from Discovery Life, but wants to know behind my back if the other company paid out the claim??? Do they not believe Discovery Life???!!! What do they do if a client only has only one policy and they can't in secret find out if that was paid out?? If the trustees have ALL the needed information they cannot make a decision why did they ask for the information. Surely it is against our privacy laws and CPA and POPI Act to go about business in this way?? And all without a single email, telephone call, NOTHING!!! It is MY money lying there so they are not doing me any favours, quite the contrary. Shame on you for treating a permanently disabled client (or piece of ******* by the way I am treated!) like that. I hold Stanlib accountable for the exotra expenses I have made to contract a CA who specializes in Tax Law, and for the prolonged process. It seems the Ombudsman is the only way out. I have, in WRITING, made it very clear to them on countless occasions that my other policy is with Liberty Life - their sister company...... - and that if you read my complaint about Liberty you will see that they got the wrong tax directive from SARS because they excluded the "disabled" part so it attracts the maximum tax rate and says it is "not their business to get tax directives". If a policy is paid out based on a wrong tax directive it cannot be fixed afterwards. So Stanlib's trustees cannot make their own decision based on evidence from Discovery Life, and went behind my back to ask Liberty "if they paid out my policy, in which case they will also pay out my policy"!!!!! With Stanlib and Liberty being held in the same stall, even though they trade as different companies, it seems personal information is shaky! But, while they get, they should get ALL the information. So here I sit (or rather lie down), waiting for my own money and Stanlib cannot make a decision based on factual information of my permanent disability....! And I have to pay for their incompetence. And if you EVER go behind my back again with such devious intrntions - and I have the email to prove it - you will regret it. That is if I don't use the current situation.
Dear Enough,
Thank you for the constructive conversation of yesterday. As confirmed with you, STANLIB did not violate your privacy. We received confirmation from your financial planner to contact Liberty directly. We have also agreed that we both need to follow the process dictated by the Rules of the Classic Retirement Annuity Fund and the Pension Funds Act.
We do apologise for any misunderstanding created by prior correspondence and conversations with our teams. We understand that it is critical to convey information concisely. Inconsistencies can lead to the frustration you have experienced.
We will do our best to assist you in presenting a comprehensive case to the Trustees so that they can reach a determination as speedily as possible.
Warm regards
Barbara Egan, on behalf of the STANLIB Team
Best regards,
Dear Enough,
Thank you for the constructive conversation of yesterday. As confirmed with you, STANLIB did not violate your privacy. We received confirmation from your financial planner to contact Liberty directly. We have also agreed that we both need to follow the process dictated by the Rules of the Classic Retirement Annuity Fund and the Pension Funds Act.
We do apologise for any misunderstanding created by prior correspondence and conversations with our teams. We understand that it is critical to convey information concisely. Inconsistencies can lead to the frustration you have experienced.
We will do our best to assist you in presenting a comprehensive case to the Trustees so that they can reach a determination as speedily as possible.
Warm regards
Barbara Egan, on behalf of the STANLIB Team
Best regards,
711 total reviews on Hellopeter