Momentum
Momentum decresing pension

On 20 October I received a letter from Momentum dated 28 august 2013 in the mail stating that Momentum are going to reduce my pension by 30% due to a policy that they cannot guarantee anymore. This is a total shock as I only have to 1 nov to decide. Why don't they send such important matter in registered post. When I placed my pension with momentum they guaranteed the policy for 10 years I enquirer about the condition and momentum stated that the policy is priced over my life and not only for the term but should the mortality increase they could adjust my premiums. now Momentum are stating that due to economics they could not keep the policy premium and my premium would increase by 372% This is not acceptable policy 096055885

Company: Momentum
Country: South Africa
City: Life actuary

  <     >