Absa
Unpaid provident fund

This provident fund feels like a, I thought the whole idea of a provident fund is to invest. What type of an investment is it when you contribute R367 and you are told 7months after working for a company that only R255 is going towards my investment. I was advised that it would take 6-8weeks for my money to be deposited into my account after signing the provident fund forms. Last week when I inquired on my provident fund I was told that my money will be deposited into my account before the weekend. So you can imagine by Friday, not receiving anything I called Teresa, who said that the payment was delaying. I asked her why no one had advised me of the delay since my money was already a week over due, and I quote her exact words " well, you called. Now you know". I was lost for words. I'm sure there is a law against such injustice. It would not surprise me if they deposit a cheque that will take days if not weeks to clear. I am now into my 10th week still no payment. Do I get compensation for my lost time and money value?

Company: Absa
Country: South Africa
City: Tiger valley

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