Old Mutual
Old Mutual not hounouring timelines as agreed upon

Withdrew from the fund in April. Was told by Previous employer funds will be disbursed into my bank account by End May. An initial call to OM beginning of June, I was told funds will be disbursed accordingly in 1 week. I have since made a number of calls to OM call centre where I have been told by their agents, who could not point out the cause of delay that the matter has been escalated and should expect payment within a week. They have taken more than 2 months to process this transaction and each time I query, I am told its been processed and funds will be in my account shortly. Today I again made the call to OM and this time I was told by Ivan they are still verifying my banking details and matter will be escalated. I should now expect payment next week. I understand OM could be within a specified period in terms of pension disbursement. However my challenge at this point is why are their call centre agents not telling me the truth. I am now inconvenienced as all my plans are on hold indefinitely as a result of this delay and or miscommunication.

Company: Old Mutual
Country: South Africa
City: Retirement Fund

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