Alexander Forbes Financial Services
Failure to realise provident funds

AF is holding my provident funds, i resigned last year 31 December and signed documents to transfer my provident fund to a preservation fund. My financial adviser made enquiries and was advised that they have never received my termination forms from my employer. I confirm that on the 1 July 2013 forms were completed and resend to AF through my financial advisor which email I was copied and have proof that they received them. To date my the tranfer of my funds have not been done by Alexander Forbes despite having received another copy of my termination. They continue to hold my funds illegally so, as they do not have a right to be holding them since I am no longer employed by their client and they have received my instruction to release them but to no avail. For their sake I hope that they are still paying interest on them. Further, the Act requires them to send me a statement of account ever 3 months which they have not done. This situation is not only unprofessional but also a contravention of the Pension Fund Act, and FSB regulations. The worst part is that they dont bother to reply to queries. What a shame!! 10 months later.

Company: Alexander Forbes Financial Services
Country: South Africa
City: Head Office

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