Old Mutual
I cannot get my Retirement Annuity Back

I bought a Retirement Annuity Plan with Old Mutual through a broker. In August 2012 Old Mutual Announced that their broking agreement with AIFA came to an end and therefore I did not have any contact with my financial adviser who was employed by AIFA. In January 2013 I needed financial advice after my employer made Provident Fund Compulsory. I was told that a financial adviser will call me and when he finally did, he could not help me and he said he will inquire and call me back and never did. Today I decided to call and when I said I needed to cancel the plan, I was told I cannot get my money because my plan value is R200 above the maximum allowed value that I could disinvest my money. I was also informed that this decision might result in me loosing my money due to administration fees and financial adviser commission (I do not have a financial adviser). If Old Mutual had given me advise in February and I knew then that the only option I had was to cancel my plan, I would not be at this stage. And in February my money was below the allowed amount and therefore I could have received my money, but instead old Mutual waited until I could not dis-invest my money. I find this unfai

Company: Old Mutual
Country: South Africa
City: Capetown

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