» » Absa - Refusal to withdraw from fund | #10660

Complaint / review / scam report
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.
Author: DeanMak


Offender: Absa

Country: South Africa   Region: All Country   City: Private Security Sector

Category: Business & Finance

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