Absa
Pension Fund

I was put on pension on 31 May 2013 by Shanduka coal and applied for my pension to be paid out in a lamb sum on 1 May 2013 so that I can pay off my home loan as I will not be able to pay my home loan with my monthly pension payout estimated by FNB to be (R900 to R1200) a month. I was notified that the application form was lost and a second application was submitted on 31 May 2013. Thea e mailed me that I cannot get my pension Pay out in full and that I can only get 1 third and the rest to be invested into a monthly income. There are about 10 different options where I have to choose from and that I have to see a financial adviser to help me choose the right one and if I do not have one, one will be supplied by Absa. I tried to explain to her that I will not be able to pay my house with a monthly pension income and will be forced to sell my house and loose my income that I can make at home as I have a fully equipped woodworking workshop at home. but if this is the only way absa can assist me then please advise me in what all the deffered options will payout monthly so that I can decide which one to choose. her last e mail to me was on 28 Aug 2013 and have not heard from her ever sinc

Company: Absa
Country: South Africa
City: Pension Fund

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