On 11 June 2013 I receive a letter from Liberty informing me that my "retirement policy's portfolios have changed". To my surprise and disgust I learn that the change was effective as from 18 March 2013. I was NOT consulted regarding the change to my portfolio. This change was done so as to ensure that my policy was in line with Regulation 28 of the Pension Funds Act. Regardless of any regulation, I need to be consulted before changes to my policy are done!
I have called the Liberty contact centre on 2 occasions:
- June 11 2013, The consultant mentioned she will investigate further and will be called back at the end of the same day. I was NOT called back as promised.
- June 20 2013, I called again, I was assured I will be called back within 48 hours, STILL no response as promised.
It is extremely disconcerting that a financial organisation which holds large amounts of clients' money goes about their business in the unethical (and illegal?) manner described above and follow this up with absolutely pathetic service.
Lets hope publicizing their unethical practices and pathetic service might jolt them into some sort of action. (This will be posted on FB and Twitter as well)
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