STANDLIB 🫤DECEASED ESTATE

STANDLIB 🫤DECEASED ESTATE

I am writing to express my disappointment and frustration with Stanlib's administration of a deceased estate. As a foreigner, I have encountered significant challenges in this process. Since September 2024, I have been attempting to obtain the payout of my funds. Despite numerous inquiries, Stanlib has consistently cited delays in receiving a response from SARS, with this excuse being used since September 2024. I find it implausible that it takes 5 months to receive a response from SARS.

Upon my return to South Africa in February, I was advised to cancel my SARS pin and reapply. The initial submission of the application was facilitated and submitted through the financial consultant herself, for which I incurred the costs. When I questioned the accountability, a perfunctory reply - 'Reapply'

The absence of accountability has caused delays and a lack of urgency in resolving the issue. Moreover, Stanlib often fails to honor its own time commitments, rendering it extremely difficult to obtain progress updates or ensure the timely distribution of assets to the rightful heirs.

The absence of adequate communication, empathy, and professionalism exhibited by Standard Bank, which has committed to providing superior service globally, is wholly unacceptable. I strongly recommend that Stanlib reexamines and improves its estate administration processes to prevent unnecessary setbacks and additional distress for bereaved families.