AfricaComplaints.com » Business & Finance » Complaint / review: Absa - Refusal to withdraw from fund | #10660

Absa
Refusal to withdraw from fund

In August 2012 my working conditions changed & as a requirement I had to change my provident fund from Absa's PSSPF to a new one allocated by the company. I joined the Absa provident fund in mid-2009 and my last contribution was on 31 July 2012. The company later advised me that I should withdraw from the fund because a new one had been set up and I was no longer required to make contributions to the Absa provident fund.

In November 2012, all required claim documents were faxed to Absa Consultants and Actuaries. On Tuesday, 15 January 2013 I phoned the consultants to find out the process of my claim. I furnished the consultant with my ID number and he told me that they had not received such claim. On Wednesday, 16 January 2013 I resubmitted a new Claim Form with all the required supporting documents, I then phoned the call centre to confirm receipt of the form and I gave them my ID number. The consultant told me that I cannot withdraw from the fund because I am still employed.

Now I don't understand why I cannot have my benefits paid into my bank account. I have witness who have had their provident fund changed and they had their benefits paid into their accounts.

Date:

Company: Absa

Country: South Africa   City: Private Security Sector

Category: Business & Finance

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