I am so appaulled.6 yrs ago i took out an investment plan with old mutual, the consultant told me if i were to invest R200 a month over 6 yrs i would get around R25 000 after 6 yrs but that was all just a big FAT LIE. My policy matured on the 1st May 2013 and i woke up this morning to find only R17 600 deposited in my account. Meaning that the interest is less than R1000 considering that my premiums increased with R12 every year. I saved R4000 at absa for 6 months and got better interest than that. I have been sending emails to but i have had no reply so far. I want to know how possible it is to invest and get so little interest. I want to know how old mutual calculates their interest. Someone at Old Mutual must take responsibility for this because this is not the end of it. I am going to the ombudsman. Either you train your consultants to to clients just so they would sign with you or you just simply rob clients. Had i know my interest would be close to nothing i definately would have saved at absa and get way better Interest.
Someone needs to get back to me because i am furious.
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